Sri Lanka Budget increases casino entrance fees
Turnover tax has also been raised for gaming establishments.
Key points:
– Entrance fee for casinos now $100 per person
– Turnover tax for gaming establishments now set at 18%
– Overall, the Budget is aiming to drive revenue and boost Sri Lanka’s economy
Sri Lanka President Anura Kumara Dissanayake has unveiled his first Budget since being elected last year, with gambling one focus of the announcement.
Firstly, the entrance fee for the two casinos in the nation will rise to $100 per person, double the amount of the previous entrance fee.
On top of this, turnover tax on gaming establishments has also been increased from 15% to 18%.
This budget comes as the recently elected President looks to drive revenue and help boost Sri Lanka’s economy, with a number of measures also introduced related to other sectors.
Good to know: City of Dreams Sri Lanka was the first integrated resort in Sri Lanka
The International Monetary Fund (IMF) wants the country to double its income from taxation compared to the 7.3% of GDP it took in 2022.
Similarly, in Thailand, draft regulation has been released, setting out requirements for local gamblers to enter casinos.
A bill was approved to legalise land-based casino gambling in January and, under these proposed entry requirements, locals must have at least ฿50m ($1.48m) in fixed deposits for at least six months; while there would be an entry fee capped at ฿5,000.
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