Albanian President Ilir Meta threw out a bill seeking to lower gambling taxes earlier this week, saying the proposal would do more harm than good to the country’s economy.

Tirana Times reported that Meta vetoed the latest gambling tax measure that could have significantly reduced the tax burden on gambling operators. Instead of taxing the usual turnover, the Socialist party-backed measure sought to impose at 15 percent tax on gambling operators’ gross earnings—essentially the amount left after winnings were paid out to players.

The bill defines gross earnings as the amount remaining after winnings are paid out to gamblers.

The Austrian Lottery would have been the biggest winner if Meta approved the latest gambling tax bill. The company, which has been operating Albania’s loss-making National Lottery since 2013, is levied with a 10 percent tax on turnover. But under the proposed unified tax rate for the gambling industry, the 10 percent turnover tax burden of The Austrian Lottery will be reduced to 15 percent tax on gross earnings as well.