Mithri to Cancel Casino licenses

CASINOMM

Sri Lanka’s opposition candidate Maithripala Sirisena to cancel JKH and Packer

Dec 22, 2014, Sri Lanka opposition candidate Maithripala Sirisena has declared to cancel the casino licenses given to John Keells Holdings and Australian James Packer, who is in the casino business.

“I will not allow the two Casino licences given to “Water Front” and “Lake leisure ” under the Strategy Act contrary to certain decisions of Parliament and the Cabinet of Ministers and the opposition of the Chief Prelates of all three Buddhist Sects.” Sirisena said in his election manifesto released Friday.
He also said, a study will be carried out for the projects which has been given tax concessions under the government’s Strategic Development Projects Act and those who comes under fraud and inaccurate will be removed from concessions.

 

CASINO PACKER

Projects under the Strategic Development Projects Act get a range of tax holidays and other benefits.

Government announced its approval for corporate income tax holidays and import duty concessions on materials, on Feb this year for Lake Leisure Holdings (Private) Limited (connected to Australia’s James Packer), Waterfront Properties (Private) Limited. (Connected to John Keells Holdings) and The Queensbury Leisure Limited connected to entrepreneur Dhammika Perera.
The concessions when first published ran into a controversy as all resorts are also expected to have gaming operations.

The gazette said the resorts will have rooms, shopping malls, residences, office spaces and “associated facilities”.

The revised tax concessions contained no specific references to gaming, and contained wording that appeared to exclude a corporate income tax holidays for revenue profits from gaming, other than rental income.

The manifesto has not mention about the third project by transport secretary and entrepreneur Dhammika Perera, which was also given tax breaks.

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