Sri Lanka Takes Steps to Regulate Gambling with New Authority

[MissExposé]

The Cabinet of Ministers in Sri Lanka has given official validation to draft legislation for the establishment of the Gambling Regulatory Authority (GRA), which will oversee the gambling industry, ensure proper tax collection, and prevent illegal activities and harm caused by gambling. The details of the legislation are yet to be determined, but previous plans have indicated that the regulator would grant licenses for up to 20 years, with casinos subject to a 40% profit tax on top of their annual license fee.

Source: https://news.worldcasinodirectory.com/sri-lankas-cabinet-of-ministers-validates-establishment-of-gambling-regulatory-authority-109385

 

[AussieDave]

40% profit tax... that's crippling. Besides the fact I highly doubt at those costs, that one could operate a casino/sportsbook at a profit, much less pay affiliates.

 

[Frank]

The country has big problems, I guess they are tryng to reinvent themselves as the Macua of the Indian ocean to cater for that extremely big economy growing to the north