COLOMBO : Sri Lanka increases casino,excise license and renewal fees
COLOMBO :: The Sri Lankan government has increased the Casino License fees and the Casino License Renewal fee in the country, the Finance Ministry said.
The Casino Business Licensing Regulation No. 01 of 2022 has been amended through a Government Notification issue by President Ranil Wickremesinghe in his capacity as the Minister of Finance, effective from January 01, 2024.
Accordingly, for applicants with a minimum investment of USD 250 million in integrated development, the Casino License fee is Rs.10 billion while the Casino License Renewal fee is Rs.10 billion.
For applicants whose investment in integrated development is a minimum of USD 500 million, the Casino License fee is Rs. 05 billion while the fee for Renewal of License is Rs. 10 billion.
Meanwhile for the existing operators of casinos (who have obtained license prior to January 01, 2023) the License fee is Rs. 02 billion. This is divided as Rs. 500 million for the first five years and Rs. 1.5 billion for the next 15 years. The Renewal fee is also Rs. 10 billion.
Meanwhile, the government of Sri Lanka has decided to increase the Annual Excise License fees with effect from 12 January 2024.
The license fees have been increased through an Excise Ordinance issued by President Ranil Wickremesinghe in his capacity as the Minister of Finance.
Accordingly, the Distillery License fee (except for Palmyra arrack) has been increased from Rs. 01 million to Rs. 25 million while the License fee for Palmyra arrack has been increased from Rs. 250,000 to Rs. 05 million.
Meanwhile the License fee for bottling of Toddy has been increased from Rs. 01 million to Rs. 10 million while the license fee for manufacturing vinegar has been increased from Rs. 500,000 to Rs. 2.5 million.
The annual Wholesale License for liquor has been increased from Rs. 01 million to Rs. 05 million while the Retail License for Liquor has been increased as follows:
Municipal Area – Rs. 15 million
Urban Council Area – Rs. 12.5 million
Other areas – Rs. 10 million
The annual license fee for tourist board approved hotels has been increased as follows:
Rooms 200 or over – Rs. 01 million
Rooms 20 to 199 – Rs. 500,000
Rooms below 20 – Rs. 250,000
However, the annual license fee for night clubs has been reduced from Rs. 500,000 to Rs. 250,000.
