RIGA, Oct. 30 (Xinhua) -- Latvian lawmakers on Wednesday endorsed the proposal to raise taxes on gambling, the parliamentary press service informed.
The gambling tax hike has been included in a package of legislation related to Latvia's 2020 budget and is aimed at shifting the tax burden from labor to consumption and capital, as well as increasing budget income.
Starting 2020, the annual tax on gambling tables (roulette, cards, and dice) will go up to 28,080 euros (31,211 U.S. dollars) from 23,400 euros per table.
The annual tax per slot machine will rise to 5,172 euros from 4,164 euros, according to the draft amendments which on Wednesday passed the first reading in the parliament.
Under the new legislation, 90 percent of the revenue generated from gambling taxes will go to the central government budget and 10 percent to be budget of the municipality where the gambling took place. (1 euro =1.11 U.S. dollars) Enditem