Consideration of Betting and Gaming Taxes (Amendment) Bill postponed until timeline for establishing regulatory authority is worked out, the Committee on Public Finance (COPF) decided.
The first meeting of the Committee on Public Finance for the fourth session of ninth Parliament was held this week under the chairmanship of Dr. Harsha de Silva.
The Betting and Gaming Levy (Amendment) Bill was discussed and consideration of the bill was postponed for a week until a timeline for establishing a regulatory authority for casinos is worked out.
The chairman of the committee pointed out that the establishment of a regulatory authority regarding the casino business was previously discussed. Accordingly, the Ministry of Finance has prepared a time frame for this regulatory authority to get cabinet approval by January 31, 2023, he said. But since it has not been done, the committee mentioned that a new time frame is needed and a period of one week will be given to prepare it for the Ministry of Finance. Accordingly, it was decided to meet the Committee on Public Finance in a week to consider the Betting and Gaming Levy (Amendment) Bill.
Also, the approval of the Committee on Public Finance was also given for the regulation under Appropriation Act No. 30 of 2021.