No tax concessions for casino owners; collect 70% tax from their income

9 November 2023 03:30 pm - 12 - {{hitsCtrl.values.hits}}

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RUWANWELLA (Daily Mirror) - None of the casino owners are given any kind of tax concession, and they have to pay 70% of their income as tax, Finance State Minister Ranjith Siyambalapitiya said.

Addressing a meeting at Ruwanwella this morning, he said that requests have been made by several casino owners to cut the amount of tax to be collected during the Covid-19 pandemic period, and it has now been forwarded to the Attorney General.

Casinos had operated without any regulations, but they have begun operating according to a regulation from this year.

The Minister further mentioned that Rs. 500 million will be charged as registration fees for 5 years when starting a casino business.

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Comments - 12

S. Samarakoon Thursday, 09 November 2023 03:52 PM

Net Big Bird first !!

Sanje Thursday, 09 November 2023 04:00 PM

why leave 30% ...? make it 100%. In what ever the business there should be a limit in taxation. Best is to BAN Casino in SL..

Kandiah Balendran Thursday, 09 November 2023 04:39 PM

This is to protect current casino owners from new competition.

Kabir Hashim Thursday, 09 November 2023 04:40 PM

Taxes are not collected, taxes only on paper.

navratne willamune Thursday, 09 November 2023 04:53 PM

dont kill the goose that lays the eggs

Ranga Thursday, 09 November 2023 05:02 PM

70% of income isnot viable for any business

roni Thursday, 09 November 2023 05:45 PM

What about collecting taxes from the perpetrators of Sugar, Palm oil, Vaccines, fertilizer and sugar repeat dose etc scams. It would be a better place to start.

Katukanna Tissa Thursday, 09 November 2023 05:52 PM

It’s absurd to collect 70% income tax on any business. This will lead to profit hiding

Tissa Fernando Thursday, 09 November 2023 05:58 PM

They want to kill the existing casinos and then pass on the licenses to their friends and family members later after removing legislation. Why not introduce Dollar only casinos so only those having dollars will visit .

DW Friday, 10 November 2023 03:54 AM

70%???? You work hard to make 100 and then give 70 to this corrupt lazy government!!!!!! Why would anyone invest in this land.

SLEx Friday, 10 November 2023 12:05 PM

Only 70% of the income is taxable. They arent paying 70% of their income as tax. Half the commenters cannot comprehend simple grammar.

Sambo Saturday, 11 November 2023 08:01 AM

That's what you say but ends up where they get a 70% tax reduction and pay only 30%.

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No tax concessions for casino owners; collect 70% tax from their income

Comments - 12

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