Gambling centres to be under scrutiny

Sandasen Marasinghe and Irangika Range

Investment Promotion Minister Lakshman Yapa Abeywardena yesterday said all betting and gaming business centres were compulsory to be registered at the Inland Revenue Department before May 31, according to 2013 budget proposals. He said the betting and gaming centres would be monitored under the government's regulations.

Minister Lakshman Yapa

He made these observations in response to a special statement made by DNA MP Anura Kumara Dissanayake under the Standing Order 23(2) questioning the tax reliefs granted to the massive scale gambling businesses and the investments made by an Australian businessman in Sri Lanka.

The minister said the government grants tax reliefs and other facilities in accordance with the regulations under the Inland Revenue Act to bring in foreign investment to Sri Lanka and achieve the targeted economic development rate. He said the government's plan is to bring in 2.5 million tourists to Sri Lanka by 2016.

MP Anura Kumara Dissanayake questioned of casinos, if lands have been granted to James Packer's by the government and as to why a massive amount of tax has been granted to the casino complex project.

Minister Abeywardena said a Sri Lankan company has agreed to provide lands for the Crown Company. He said the government has cancelled the policy of providing lands with all rights for foreign investors. He said the government is controlling the selling of private lands to foreigners. He said no additional tax reliefs have been given to the James Packer's Company.

He said the questioned project includes 400 hotel rooms, retail shopping centre, entertainment facilities, restaurants, meeting and convention facilities. He said the project does not include any additional activity other than what exists in star hotels.

He said casino has not been identified as a strategic development project in Sri Lanka.

Minister Abeywardena said the said project would invest US $ 350 million in Sri Lanka which would create 2,600 direct employment opportunities and a number of indirect employment opportunities. It will have facilities that could attract Australian and Singaporean investors for the promotion of the tourism industry in the country.

The Minister said the prime objective of the Board of Investment is to create environment for direct foreign investments and new employment opportunities.