Sri Lanka Parliament panel questions gaming regulator delay

Sri Lanka
By Editor_1
-go-lanka.in

COLOMBO – Sri Lanka Parliament’s Committee on Public Finance (COPF) has questioned a delay in setting up a regulator for the gaming industry, a statement said.

The government had earlier promised to set up the regulator by December 31, 2023.

The COPF had summoned the director general of fiscal policy and sought details of physical and online casinos, including tax amounts, and requested a proposed plan to recover outstanding taxes.

“Stressing the vital role of a gaming regulator in both attracting investment and recouping billions of lost revenue, COPF members emphasized the urgency of this legislation. They highlighted that inadequate regulations result in substantial losses for the government. Consequently, the MOF representative indicated a need for additional expertise to construct a robust revenue model similar to Singapore’s,” the Parliament statement read.

COPF granted a two-week extension for this while expecting completion of the legislation by March 31.

-econmynext.com

 

Editor_1
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