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 Late the gazette notification granting tax concessions to Packer was withdrawn from parliament due to opposition protests.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
Sri Lankan President launches sixth phase of Divi Neguma domestic agriculture program
-- [5 hours ago]
Trade unions in Sri Lanka protest demanding Rs. 10,000 wage hike
-- [5 hours ago]
Five suspects surrender to police over attack on Sri Lanka university students
-- [5 hours ago]
Sri Lanka Navy deploys personnel to assist flood victims
-- [6 hours ago]
Sri Lanka Cricket emphasizes India tour is a collective decision
-- [6 hours ago]
Australian travelers advised to exercise a high degree of caution in Sri Lanka
-- [7 hours ago]
Lifting EU sanctions on LTTE is a result of continuous mission against country - Sri Lanka ruling party
-- [8 hours ago]
Sri Lankan President to meet JHU leaders tomorrow
-- [9 hours ago]
Sri Lanka cabinet spokesman confirms the Presidential election is in January
-- [9 hours ago]
UK seafood importers criticize EU ban on Sri Lanka, willing to help government to improve the industry
-- [9 hours ago]

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.