The Latvian parliament has submitted a proposal for the country’s 2020 budget to increase gaming taxes levied on land-based gambling in the country.Should the proposal be accepted and the budget comes into effect, the flat fee levied on each slot machine in operation will rise from €4,164 to €5,172. In addition, operators of roulette and table games will have to pay an annual fee of €28,080 per gaming table they operate in 2020, up from €23,400 in 2019.
The proposal would also see 90% of gambling taxes and fees allocated to the country’s national budget, with the remaining 10% to be granted to the region in which these taxes are collected.
The draft budget does not, however, include any changes to taxes for the country’s igaming market.
In documents that formed part of the new laws, the Latvian government stated that there are 8,643 slot machines in the country and 61 gaming tables. Therefore, if the numbers of machines and tables remain the same, the increase in taxes would bring in about €9m.
The government noted that over the first six months of 2019, gaming machines generated revenue of €111.5m at an average of €12,896 per device. Table games, meanwhile, generated €8.1m, or €132,164 per table, over the same period.
The budget, introduced by finance minister Jānis Reirs, has been introduced to the country’s budget and finance committee before it is read in the Saeima, the country’s Parliament.
If passed, the law will come into effect on 1 January, 2020.
