Betting and Gaming Levy
Posted by
Kokila S. Mudugamuwa
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12:00:00 AM
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Persons liable for the Levy
- The Business of a Bookmaker or
- The Business of Gaming
A person, who is carrying on the business of a bookmaker or business of gaming within Sri Lanka either lawfully or unlawfully, is chargeable to tax, at the respective rates specified in the Schedule to the Act. If such business is carried on in different places by the same person, he is required to pay the levy for each such different place. (Each place is considered as a separate business for tax purposes)
Acts
| Betting and Gaming Levy Act, No.40 of 1988 [Certified on 24th November, 1988] |
| Betting and Gaming Levy (Amendment) Act, No.7 of 2001 [Certified on 11th April, 2001] |
| Finance (Amendment) Act, No.11 of 2002 [Certified on 8th July, 2002] |
| Betting and Gaming Levy (Amendment) Act, No.23 of 2003 [Certified on 30th July, 2003] |
| Betting and Gaming Levy (Amendment) Act, No.09 of 2005 [Certified on 31st March, 2005] |
| Betting and Gaming Levy (Amendment) Act, No.14 of 2006 [Certified on 31st March, 2006] |
| Betting and Gaming Levy (Amendment) Act, No.19 of 2013 [Certified on 24th April, 2013] |
| Consolidated Text of the Betting and Gaming Levy Act, No.40 of 1988[Incorporating Amendments up to 30.04.2013] |
| Betting and Gaming Levy (Amendment) Act, No.14 of 2015 [Certified on 30th October 2015] |
Amount of the Levy on the Business of Betting
For the period from 01/04/2015 to date -
- Where it is carried on through agents-Four Million Rupees
- In case when live telecast facilities are used for carrying on the business-.Six Hundred Thousand Rupees
- In case where live telecast facilities are not used in carrying on the business- Fifty Thousand Rupees
Amount of the Levy on the business of Gaming(Casino and Rujino)
- With effect from 01/01/2015 to date - Two Hundred Million Rupees
- Casino Entry Fee of US$ 100 per Person
Payments
Due date : Before the commencement of the quarter (in 4 equal installments of the annual levy)
Levy on the Gross collection
A levy at the rate of 5% on the gross collection of business on Betting and gaming is charged, and it is payable monthly The levy could be applied to the gross collection after deducting there from prizes or winning awarded. However, where the gross collection does not exceed one million rupees per month, there is no liability to this levy. Any business which is subject to .this levy on the gross collection are not liable to pay the Value Added Tax or the Nation Building Tax. As per the Amendments made in 2015, the Rate is 10%.
Payments
The levy payable on the gross collection should be paid on or before the first week of the month immediately following the relevant month.
Furnishing of Returns
- The Quarter ending on 31st of March - Before 20th of April
- The Quarter ending on 30th June - Before 20th of July
- The Quarter ending on 30th September - Before 20th of October
- The Quarter ending on 31st December - Before 20th of January
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