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Casino tax increased by 150%!

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The annual tax for casinos has been increased by 150% from Rs.200 million to Rs.500 million, Finance State Minister Ranjith Siambalapitiya said in a statement.

Accordingly, the increased tax will be in force with effect from August 1.

In addition, the Betting and Gaming Levy Act has been amended with the aim of increasing taxes for the following bets and games.

  1. Charging a higher registration fee for casinos and a $20 fee for a Sri Lankan when entering a casino.
  2. Taxes for other bets and games have been increased as follows.
  • For Live Betting Service Centres,
  1. Increasing the annual tax from Rs.600,000 to at least Rs.1 million.
  2. Increasing the 10% turnover tax to at least 15%.
  • Increasing the annual tax for betting sub-agents from Rs.4 million to at least Rs.5 million.
  • Increasing the annual tax for non-live betting centres from Rs.50,000 to Rs.75,000.

An income tax of 40% is charged from the profit.

In addition to this, the taxes on liquor and tobacco will be amended as follows.

  • A minimum of 75% tax is levied on a bottle of alcohol.
  • Cigarettes are taxed at almost 85%.
  • An income tax of 40% is charged from the profits of these institutions.

BIZ

SriLankan Airlines online booking services, restored

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SriLankan Airlines has announced in a statement that its internet booking services have been fully restored as of 08:30 GMT (14:00 local time in Sri Lanka), following a global outage of third-party service providers that affected the airline’s online booking services. 

Apologizing to any inconvenience caused, the airline urges customers to contact their Global Contact Centre at +94 19733 1979 for any further assistance with existing or new bookings.

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Govt. terminates bidding process for SriLankan Airlines

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The Cabinet at a July 9th meeting has decided to terminate the current bidding process for the divestiture of national carrier Sri Lankan Airlines, a State Owned Enterprises Restructuring Unit statement has said.

The statement further adds that instead, “alternate strategy to be decided shortly, to divest the airline base on a framework approved by Cabinet of Ministers”.
Colombo called for bids in September to sell SriLankan Airlines, a key IMF demand when granting a bailout loan to the country last year.

Six firms had initially expressed interest in taking a stake in the airline, which owed more than $2.0 billion at the end of the 2022/2023 financial year.

The government announced in April a shortlist of three potential investors, including Malaysia’s Air Asia.

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Barriers to export of SL agri products to China, removed

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The Chinese government has removed the long-standing barriers to the export of chicken and eggs produced in this country as well as pineapples to China.

Minister of Agriculture and Plantation Industries Mr. Mahinda Amaraweera said that this agreement was expressed during the discussion with the delegation including Mr. Wang Lingjung, Deputy Minister of General Administration of Customs of the People’s Republic of China who recently visited Sri Lanka.

Accordingly, Sri Lankan pineapple cultivators and exporters as well as poultry product manufacturers have been allowed to export as much poultry meat and eggs as well as pineapples to the Chinese market.

The Ministry of Agriculture and Plantation Industries had to do a lot of work to remove the obstacles that existed in our country to export these agricultural products to the Chinese market. A number of methods had to be completed in order to confirm the quality of poultry products in the country’s market, especially the way pineapple is grown in our country.

The Minister also said that due to the commitment made by the officials of the Ministry of Agriculture and Plantation Industries, the effort to get market opportunities from China has been successful for our country.

Meanwhile, the Minister of Agriculture and Plantation Industry Mr. Mahinda Amaraweera said that the Chinese Deputy Minister assured that the Chinese government will work to expand China’s market opportunities to Sri Lanka in order to export whatever high quality agricultural products are in Sri Lanka.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

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