Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka opposition protests against government's casino legislation
Fri, Apr 25, 2014, 12:10 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 24, Colombo: Activists of Sri Lanka's main opposition United National Party (UNP) today held a protest against the government's attempt to get parliamentary approval for legislation that would grant tax concessions for two projects to set up casinos and gaming facilities in the country.

Hundreds of Sri Lankan opposition party members gathered at the proposed site of the Crown Multi-Purpose Development Project at D.R. Wijewardene Mawatha in Colombo to protest against the project of Australian gaming tycoon James Packer.

Packer has agreed to invest US$350 million to build a 36-story skyscraper which will be known as 'Crown Colombo' in the heart of Colombo for a casino and gaming enterprise to be opened in 2016. The large scale casino project, which is identified as a mixed development project, has been categorized under the Strategic Development Projects Act.

Earlier, the government granted Packer a 10-year exemption from income tax in addition to a further concessionary 6 percent tax rate for 12 years among other tax concessions. Late the gazette notification granting tax concessions to Packer was withdrawn from parliament due to opposition protests.

The cabinet also approved a similar development by the diversified conglomerate, John Keells Holdings (JKH) to build a multi-function resort at a cost of US$ 650 million.

However, the parliament today approved a new order under the Strategic Development Projects Act, which according to Minister Dilan Perera, will not grant the tax concessions for casinos and starting a new Casino is not allowed under the act.

President Mahinda Rajapaksa today addressing the media personnel also said the government is not in preparation to establish the casino trade in the country.

ColomboPage - Recent 10 Stories
Colombo Leadership Academy grooms Sri Lanka's next crop of young entrepreneurs
-- [5 hours ago]
Two UN special rapporteurs arrive in Sri Lanka on a joint visit
-- [6 hours ago]
Sri Lanka media activists protest demanding fresh probe into journalist's murder
-- [6 hours ago]
Deputy Minister slams former president for misleading people on VAT
-- [7 hours ago]
Former Aviation Minister, ex-SriLankan chairman appear before Presidential Commission of Inquiry
-- [7 hours ago]
French Naval ship arrives at Sri Lankan port on goodwill visit
-- [8 hours ago]
Sri Lanka, Cuba and El Salvador for trilateral cooperation to curb Chronic Kidney Disease
-- [8 hours ago]
Malaysian trade delegation to visit Sri Lanka next week seeking investment opportunities
-- [9 hours ago]
Sri Lankan Court bars joint opposition from holding May Day rally at Shalika Grounds
-- [9 hours ago]
Sri Lanka's Colombo inflation rises to 3.1 percent in April 2016

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.