Hovhannisyan Reveals How Mines and Gambling Helped Boost Budget Revenues
The Republic of Armenia's state budget has received an additional 36.4 billion drams from mines and 10 billion drams from gambling in 2024. This data was presented by the Minister of Finance Vahé Hovhannisyan during a press conference.
This increase has occurred due to the rise in royalties on mineral extraction and taxes on online gambling platforms. In absolute numbers, the revenue from royalties amounted to 78.1 billion drams, while the revenue from gambling reached 23.4 billion drams.
The minister reminded that a new Tax Code is currently being developed. The ministry intends to maintain the simplicity of tax payments for small businesses but plans to limit tax incentives to avoid disrupting economic competition.
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