Raising the taxes of Bookmakers


On October 2016, the government of Armenia suggested some major changes for bookmaking companies. The changes related to the tax system of the bookmakers. The government wanted to raise the taxes of bookmakers five times. This type of changes can be fatal for betting companies, especially in the small country like Armenia. At first bookmakers tried to protest and force the government to revise their decision, but they failed. Eventually, in January, the government passed the mentioned law and starting from next year the companies will have to pay five times more taxes. Actually, this decision has more disadvantages than advantages. One of them is that not all the bookmaking companies can afford to pay that amount of taxes per year. It could end up the owners closing their companies and thousands of workplaces would be closed. For Armenia, where the economy is not on the high level, this kind of decisions should be revised several times, because after this decision maybe the country will receive more money from betting companies, but its citizens will suffer as they can lose their jobs and no longer be able to earn their livings.


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