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How Much Do Casinos Owe the Inland Revenue Department?
In 2015, the government imposed a one-off Casino Industry levy of LKR 1 Bn each on the 4 Casinos established in Sri Lanka. As a result, a total of LKR 4 Bn was owed to the Inland Revenue Department. However, by the end of 2015, only LKR 80 Mn had been collected from these businesses. In 2016, the Auditor General’s (AG) report revealed that only LKR 400 Mn had been collected so far from these entities, and no action had been taken to recover the remaining LKR 3.6 Bn and this had also not been recorded as ‘tax arrears. In 2019, a cumulative total of only LKR 1,330 Mn had yet been collected. A further LKR 2,670 Mn remained unrecovered. Even in 2021, 2 years later, the Inland Revenue Department revealed that casino businesses still owed them a total of LKR 2.67 Bn in tax arrears, highlighting the minimal progress of collecting these taxes.
විදසුන්
How Much Do Casinos Owe the Inland Revenue Department?
In 2015, the government imposed a one-off Casino Industry levy of LKR 1 Bn each on the 4 Casinos established in Sri Lanka. As a result, a total of LKR 4 Bn was owed to the Inland Revenue Department. However, by the end of 2015, only LKR 80 Mn had been collected from these businesses. In 2016, the Auditor General’s (AG) report revealed that only LKR 400 Mn had been collected so far from these entities, and no action had been taken to recover the remaining LKR 3.6 Bn and this had also not been recorded as ‘tax arrears. In 2019, a cumulative total of only LKR 1,330 Mn had yet been collected. A further LKR 2,670 Mn remained unrecovered. Even in 2021, 2 years later, the Inland Revenue Department revealed that casino businesses still owed them a total of LKR 2.67 Bn in tax arrears, highlighting the minimal progress of collecting these taxes.
විදසුන්
How Much Do Casinos Owe the Inland Revenue Department?
In 2015, the government imposed a one-off Casino Industry levy of LKR 1 Bn each on the 4 Casinos established in Sri Lanka. As a result, a total of LKR 4 Bn was owed to the Inland Revenue Department. However, by the end of 2015, only LKR 80 Mn had been collected from these businesses. In 2016, the Auditor General’s (AG) report revealed that only LKR 400 Mn had been collected so far from these entities, and no action had been taken to recover the remaining LKR 3.6 Bn and this had also not been recorded as ‘tax arrears. In 2019, a cumulative total of only LKR 1,330 Mn had yet been collected. A further LKR 2,670 Mn remained unrecovered. Even in 2021, 2 years later, the Inland Revenue Department revealed that casino businesses still owed them a total of LKR 2.67 Bn in tax arrears, highlighting the minimal progress of collecting these taxes.
විදසුන්
How Much Do Casinos Owe the Inland Revenue Department?
In 2015, the government imposed a one-off Casino Industry levy of LKR 1 Bn each on the 4 Casinos established in Sri Lanka. As a result, a total of LKR 4 Bn was owed to the Inland Revenue Department. However, by the end of 2015, only LKR 80 Mn had been collected from these businesses. In 2016, the Auditor General’s (AG) report revealed that only LKR 400 Mn had been collected so far from these entities, and no action had been taken to recover the remaining LKR 3.6 Bn and this had also not been recorded as ‘tax arrears. In 2019, a cumulative total of only LKR 1,330 Mn had yet been collected. A further LKR 2,670 Mn remained unrecovered. Even in 2021, 2 years later, the Inland Revenue Department revealed that casino businesses still owed them a total of LKR 2.67 Bn in tax arrears, highlighting the minimal progress of collecting these taxes.
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CBSL Governor assures USD 200 Mn a month – Gammanpila
Despite Sri Lanka experiencing a foreign exchange deficit in recent months, Minister of Energy Udaya Gammanpila stated the Governor of the Central Bank has pledged to provide the Ministry of Energy with a total of USD 200 million per month f...
2021-09-30
Ceylon Today
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Sri Lanka seals biggest-ever investment in the Port sector
Sri Lanka yesterday sealed the biggest-ever investment in to the port sector worth $ 650 million with joint project promoters – India’s giant Adani, local blue chip John Keells Holdings (JKH) and the State-owned SLPA signing the...
2021-10-01
Daily FT
වැඩිදුර කියවන්න
CBSL Governor assures USD 200 Mn a month – Gammanpila
Despite Sri Lanka experiencing a foreign exchange deficit in recent months, Minister of Energy Udaya Gammanpila stated the Governor of the Central Bank has pledged to provide the Ministry of Energy with a total of USD 200 million per month f...
2021-09-30
Ceylon Today
වැඩිදුර කියවන්න
Govt to spend $50M on shippers, freight clearance
On Prime Minister Mahinda Rajapaksa’s directives, the Government has allocated USD 50 million to pay shippers and clear around 800 containers of essential commodities held at the Port.
2021-09-29
Ceylon Today
වැඩිදුර කියවන්න
Sri Lanka in talks with India for USD 500 Mn credit line for oil: Jayasundera
Sri Lanka is in discussion with the Indian government for a 500 million US dollar credit line to buy fuel to and delay payments, President’s Secretary P B Jayasundera said.
2021-09-24
economynext
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