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Huge taxes to be imposed on casino

The annual tax charged from casino centres in Sri Lanka has increased from Rs. 200 million to Rs. 500 million, effective from August 01, 2022, revealed State Minister of Finance Ranjith Siyambalapitiya.

In addition, the Betting and Gambling Act has been amended meeting the following tax revisions;

  1. Charging of an unprecedented high registration fee for casinos and charging of a US$ 20 fee for any Sri Lankan entering a casino centre.
  2. Tax revisions for other betting and gambling games are as follows;
  • Live Betting Centres:

The annual levy of Rs. 600,000 increased to Rs. 01 million minimum
Levy on turnover of 10 per cent increased to 15 per cent minimum

  • The annual levy of Rs. 04 million on sub representatives of betting centres increased to Rs. 05 million minimum
  • The annual levy of Rs. 50,000 on non-live betting centres increased to Rs. 75,000

In addition, all businesses related to betting and gambling will be subjugated to an income tax of 40 per cent from their profit/income.

MIAP

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