Home Business Rs. 1,400 million casino tax arrears!
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Rs. 1,400 million casino tax arrears!

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The Inland Revenue Department states that since annual licenses are not issued for casino clubs, they are not required to provide tax clearance reports. And the Inland Revenue Department claim hat there is a Rs. 1,400 million tax arrears to be collected from the casino club licensees.

Although six licenses have been issued to operate casino clubs in the country, there is only five clubs are actively operating currently, says the IRD.

The IRD also states that action has already been initiated against the casino licensees who have not paid taxes.

Accordingly, the IRD further states that the appeal to recover the outstanding casino tax of Rs. 1,100 million is currently being heard in the Court of Appeal and that the remaining unpaid annual tax of Rs. 300 million was issued on 4 November last year (2024).

The IRD levies an annual tax of Rs. 500 million in addition to the license fee charged from a casino club and a tax on the gross amount (15% after deducting winnings from turnover). While foreigners are not charged a tax on entering casinos, Sri Lankan citizens are charged a tax of 50 USD.

(Aruna)

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