Sri Lanka to impose a casino tax of Rs1 bn : Interim Budget 2015

(From L-R) Hussain Sadique –Chairman, SLRA / Group Director, Hameedia, Mano Tittawella –Senior Advisor, Ministry of Finance & Media, Ajith Amarasekera- Director, SLRA / CEO Swarnamahal, Leonard Michael Perera, Founder Convenor & Head of Business, SLRA Dinesh Perera-Director, SLRA / Deputy Director, Abans

Jan 29, 2015 (LBO) – Sri Lanka will impose a one time tax of one billion rupees on casino owners, Finance Minister Ravi Karunanayake said, in presenting the interim budget 2015 to the parliament today. He said the government expects a 5,000 million rupees of revenue though this tax which will come in to effect on April 15, 2015.

The government also canceled all the tax breaks given to the new casinos though the interim budget.