The Sri Lankan Cabinet has approved a proposal in the country’s 2025 budget that provides for an increase in the betting tax and a doubling of the casino entry fee for citizens.
According to Economy Next, Cabinet Spokesman Nalinda Jayatissa said that the proposal received approval from Sri Lanka’s Attorney General this week. Under the plan, the betting levy on gross income will rise from 15% to 18%, while the entry fee for locals will increase from $50 to $100.
A bill to amend the Betting and Gaming Levy Act to implement these proposals has already been drafted, Jayatissa explained.
“The Attorney General has also approved the draft bill. The Cabinet of Ministers has approved the proposal to publish the draft bill in the government gazette and subsequently submit it to Parliament for approval,” he noted.
The Betting and Gaming Levy Act is the principal law in Sri Lanka regulating taxation of bookmakers and the gambling industry, requiring all who engage in such activities to pay an annual levy.
This decision follows the adoption of the Gambling Regulatory Authority (GRA) Bill, which repeals the previous Horse Racing Betting Ordinance, Gambling Ordinance, and Casino Ordinance. The GRA has been tasked with collecting gambling-related revenue, ensuring transparency and good governance in the gambling sector, and preventing illegal gambling activities.
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