Due To Tax Changes, Latvia Becomes Less Attractive For Players

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April 15, 2022
2 minutes

Representatives of one of the best gambling institutions of riga sl casino riga celebrate the negative impact of tax changes in the industry.

Due to Tax Changes, Latvia Becomes Less Attractive for Players

The management of sl casino riga, the management of which international holding storm international, notes that due to the tax burden, the latvian gambling industry becomes less attractive for foreign visitors whe are ready to play in large.

Gambling does not just meet new requirements, but also has a reputation as one of the best in the country. Gambling works more than a year and is located in grand hotel kempinski. Casino is part of the shangri la network, which specializes in work in the vip segment.

According to the data provided by the director of the gambling institution, andrei ivankin, last year sl casino employed 130 employees and paid to the state treasury about €2 million. This refers to the license collection, the tax on gembling-activity and income tax.

Gambling institution is focused on foreign vip guests. It was originally assumed that the casino would attract about 50 visitors daily.

In 2018, in Latvia, amendments to tax legislation were adopted

In 2018, in latvia, amendments to tax legislation were adopted, which suggest the introduction of tax on winnings. Foreign guests are not too interested in such a turn of events. And the fact that this practice is not common in european states, makes latvia a less attractive country for gembling tourism. As a result, even regular visitors for such entertainment began to choose neighboring states – lithuania, belarus, georgia or russia.

Despite the fact that the latvian gambling establishments have experience in attracting respectable customers, tax changes undermine their efforts. The casino leader emphasizes that such innovations have a negative impact not only on the industrial gambling, but also on tourist and other related entertainment industries.

The authorities were in a position when, instead of increasing tax revenues, faced with a reduction in the latter.

Recall that in the first quarter of this year, latvian gambling operators entered their income.

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