COPF to review Betting & Gaming Levy (Amendment) Bill next week

COPF to review Betting & Gaming Levy (Amendment) Bill next week

June 9, 2023   10:16 am

The Committee on Public Finance (COPF) has decided to postpone the reviewing of Betting and Gaming Levy (Amendment) Bill for a week until a timeline for establishing a regulatory authority for casinos is worked out.

The decision was taken at the first meeting of the Committee on Public Finance (COPF) for the fourth session of the ninth Parliament on Wednesday under the chairmanship of MP Dr. Harsha de Silva.

The COPF chairman pointed out that the establishment of a regulatory authority regarding the casino business was previously discussed and that the Finance Ministry has prepared a time frame for this regulatory authority to get cabinet approval by January 31, 2023. However, since this has not been done, the COPF mentioned that a new timeframe is needed and a period of one week would be given to prepare it.

Accordingly, it was decided to convene a COPF meeting in a week to consider the Betting and Gaming Levy (Amendment) Bill. 

In addition, the approval of the COPF was also given for the regulation under Appropriation Act No. 30 of 2021.

The Cabinet of Ministers in March 2023 gave the nod for the Betting and Gaming Levy (Amendment) Bill, proposed by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilization and National Policy.

The Amendment to the Betting and Gaming Levy Act, No. 40 of 1988, was initially approved by the Cabinet in April last year.

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