New tax for Casinos

(FASTNEWS | COLOMBO) – The Ministry of Finance has announced a 150% increase in casino annual taxes, from Rs. 200 million to Rs. 500 million.

State Minister of Finance Ranjith Siyambalapitiya said in a statement that the increase in annual taxes on casinos took effect on August 1.

He also stated that the Betting and Gaming Levy Act has been amended in order to raise relevant taxes.

As a result, the annual tax for live betting centers will be raised from Rs 600,000 to Rs 1 million.

The 10% turnover tax will be raised to 15%, according to the Ministry of Finance.