Baltics

Latvian Parliament Approves Amendments to Gambling Laws

Published

6 years ago

November 15, 2019

Niji Narayan

Optibet Sues Latvian Parliament Over Online Gambling Ban

Photo Source: saeima.lv

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Saeima, the parliament from Latvia, has approved the amendments in the final reading of the Law on Lotteries and Gambling Fee and Tax. The tax revenue from gambling that the state perceives has increased from 75% to 95%.

The amendments were designed to increase tax revenue for the state and help cover budget gaps. Before the amendments, the state budget received 75% from gambling tax revenue, while 25% went to municipalities’ budget. During the first reading, parliament members suggested to increase the state’s percentage to 90%, but the coalition agreed on 95%.

Other amendments, which will come into force with the gambling law in 2020, establish that gambling tax rate for roulette, cards and dice games will rise from €23.4k to €28k a year. Tax for gambling machines will increase from €4.1k to €5.1k.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.