Asia , News By Region , Regulation
January 13, 2024

Sri Lanka Evaluates 10 Casino Applications: A New Era in Revenue Generation

Sri Lanka is on the cusp of a transformative endeavor as it meticulously assesses ten casino applications, marking a bold stride towards increased revenue and a crackdown on illegal gambling. State Minister for Finance, Ranjith Siyambalapitiya, assures rigorous evaluation as the nation embraces the prospect of legalizing casinos. In this exploration, we delve into the […]

Asia , Business
April 26, 2023

The actual value of Sri Lanka’s gaming tax contribution has decreased

The Inland Revenue Department‘s report shows that in the first quarter, betting and gaming levies in Sri Lanka increased by 42% compared to the previous year, amounting to RS1.27bn (US$3.96m). Despite the overall tax collection increasing by 216% to RS316.62bn (US$1.12bn) and an annual inflation rate of over 50%, the share of tax revenue from […]