ARMENIAN LAWMAKERS PASS IN FINAL READING CHANGES TO GAMBLING LAW

ARKA
APRIL 27, 2010
YEREVAN

YEREVAN, April 27, /ARKA/. Armenian lawmakers have passed today in
the second and final reading a set of changes to the Law on Gambling
and Casinos as well as a package of changes to the laws on state dues,
fixed payments, VAT and income tax.

According to a deputy finance minister Vartan Aramian, from 2013
January all casinos will be allowed to operate only in three
communities of Kotayk, Gegharkunik and Vayots Dzor provinces,
Tsakhkadozr, Sevan and Jermuk respectively. He said the changes
are made to simplify the relevant legislation as well as to prompt
gambling business to consolidate which will help step up control over
their financial operations.

Particularly, the amount of the basic duty for organization of gambling
games will rise from the current 5 million Drams to 50 million, for
casinos it will grow from 25 million to 400 million Drams. The proposed
changes eliminate fixed payments for tables and plying machines. Last
year casinos paid 4 billion Drams in different taxes and duties. ($1 –
390.31 Drams).