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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ »  Sri Lankan government's amended Gaming Levy Act charges US$100 fee for entering casinos

Sri Lankan government's amended Gaming Levy Act charges US$100 fee for entering casinos

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Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

The government of Sri Lanka has issued the amended Betting and Gaming Levy Act on March 30th in keeping with the government's interim budget.

The amendment has resulted in a sum of US$ 100 being charged from any person upon entry to a casino.

The gazette states: "Every person who carried on the business of gaming in Sri Lanka for any year commencing on or after January 1, 2015, shall collect a levy (hereinafter referred to as the "casino entrance levy") of United States Dollars one hundred or its equivalent in any other convertible foreign currency or in Sri Lanka currency from any person who enters such place of business of Gaming."

According to reports, only managing directors, members of the board of management, employees or any officer authorized to enter such place of business in the exercise of his or her duties are excused from paying the fee.

The government has also increased the annual levy for betting and gaming centers.

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