Latvian parliament approves gambling amendments

The parliament from Latvia has approved a series of amendments that increase the percentage of tax revenue that the state perceives.

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

According to Baltic News Network, the majority of the parliament members were against a proposal to refuse changing the percentage that the state and municipal budgets obtain. 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.

Latvia’s regulator issues warning over fake lotteries

The gambling regulator from Latvia, Izložu un Azartspēļu Uzraudzības Inspekcija (IAUI), has issued a warning in which it tells residents to be careful not to engage in fraudulent internet fraud schemes.

The regulator explained that fake lottery organisers send emails or phone messages announcing lottery winnings. It said that finding the fraud organisers is virtually impossible, but recommended to take into account some of the signs of fake lotteries.

The Latvian watchdog mentions some of the signs, such as to have never knowingly participated in the given lottery, impersonal address, if the win announcement was sent from a public email server, and if the text contains grammatical errors.

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