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Wednesday Nov 06, 2024
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The review of the Betting and Gaming Levy (Amendment) Bill has been postponed by the Committee on Public Finance (COPF) by a week while a schedule for establishing a regulatory body for casinos was being conducted.
The decision in this regard was taken at the first meeting of the COPF at the fourth session of the ninth Parliament on Wednesday under the Chairmanship of SJB MP Dr. Harsha de Silva.
The COPF Chief noted that the establishment of a regulatory body to oversee the casino industry had previously been proposed and that the Finance Ministry had established a deadline for this regulatory body to receive Cabinet approval by 31 January. However, the COPF stated that a new timeline is required and that one week would be granted to prepare it because this hasn’t been done.
In addition, the approval of the COPF was also given for the regulation under Appropriation Act No. 30 of 2021.
In March 2023, the Cabinet cleared the Betting and Gaming Levy (Amendment) Bill, proposed by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation and National Policy Minister.
The Amendment to the Betting and Gaming Levy Act, No. 40 of 1988, was initially approved by the Cabinet in April 2022.
