The Latvian Parliament has approved a new bill in their 2020 budget that would raise the taxes on some land-based gaming operations within the country.
According to the bill, gambling establishments that offer such games as slot machines, card and dice games, and roulette will be immediately impacted by the new laws. This new tax hike was initially proposed in October and will now take effect at the first of the year.
As part of the new law, the state budget will receive the largest contributions from the nation’s gambling industry. However, local municipalities that host these gambling establishments will also receive a share of the tax revenue. However, the revenue they will receive under the new bill will be reduced in comparison to what they received prior to the new law.
The annual tax on gambling tables will increase to 28,080 euros ($31,211) from 23,400 euros ($25,878) per table. The tax on slot machines will increase to 5,172 euros ($5,719) from 4,164 euros ($4,604).