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Armenia’s casinos, whose licenses expire in 2013, will pay less state tax

12:58, 30.07.2012 Region: Armenia Theme: Economics

YEREVAN. – The addition in Armenia’s Law on State Tax went into force on July 28. This addition refers to the payment of state taxes by gaming halls and for gambling in the country.  

Pursuant to this change, the owners of Armenia’s casinos, which will operate until January 1, 2013 but whose licenses expire at an earlier date, will be allowed to pay an amount that is less than the required annual state tax and to continue with their activities.  

Annual respective state taxes are paid no later than the beginning of the coming year, Pastinfo News Agency informs.   

To note, pursuant to the Law on State Tax, an annual state tax that is five-thousand-fold (AMD 5 million, or approximately US$ 12,280) of the basic tax is set for organizing gambling in each area, whereas twenty-five-thousand-fold (AMD 25 million, or approximately $61,400) of the basic tax is specified for opening up gaming halls in Armenia.

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