Sri Lanka doubles casino license, entrance fee of US$50:Budget2019
Mar 05, 2019 16:41 PM GMT+0530 | 1 Comment(s)
ECONOMYNEXT - Sri Lanka will raise an annual licence fee for casinos from 200 million to 400 million rupees, Finance Minister Mangala Samaraweera said.
There will also be a turnover tax of 15 percent. The taxes will come into effect from April 01.
A casino entrance fee of 50 dollars per person will be charged from June 01.
Samaraweera said in Singapore the charge was higher.
However, the entrance fee could hurt casinos more than the 200 million rupee hike of the license fee, as it will discourage players, analysts said. It is also likely to discourage domestic players. (Colombo/Mar05/2019-SB)