For local individual shareholders, the new tax is more beneficial since they do not pay dividend tax anymore. The new tax rate is 20% of the gross dividends instead of previous 15 % Latvian corporate income tax and 10% personal income tax.
So now have had Georgia, Estonia and Latvia move to this system of taxation i.e only at point of distribution. It actually makes sense to do things this way. Hopefully more countries will follow but unfortunately this model only favors smaller economies not huge welfare states