International edition
October 17, 2021

Information was revealed to the House by Deputy Finance Minister

Sri Lanka: Government revenue from casinos increase rapidly

(Sri Lanka).- Government revenue collection from the casino clubs in terms of Betting and Gaming Levy has seen a rapid increase from us$ 509,380 in 2003 to us$ 2,5 million in 2006 according to information provided to Parliament last week.

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nformation was revealed to the House by Deputy Finance Minister Ranjith Siyambalapitiya in response to a question by UNP MP Ravi Karunanayake in this regard. The government had accumulated us$ 700,398 in 2004 and us$ 1,7 million in 2005.

However, the Deputy Minister declined to give the names of those who run these casino clubs citing legal restrictions under the Turnover Tax Act. The successive governments had failed to accumulate the expected target of revenue in terms of this levy which came into effect in 2001.

In 2003, the government had expected revenue running to the tune of us$ 1,1 million, and us$ 4,18 in 2006. In addition to the Betting and Gaming Levy, the Income Tax, Value Added Tax and the Economic Service Surcharge have been imposed on the Casino clubs.

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