Ravi's Robin Hood Budget: Heavy One-time Taxes On Casino - Satellite TV Networks - Telcos- CSN

In what seems to be a Robin Hood budget, Finance Minister Ravi Karunanayake imposed heavy one time taxes on Casino owners, satellite television networks and sports TV channels.

According to proposals of the interim budget, presented by the Finance Minister, casino owners in the country, irrespective of their dates of registration, have been hit with a one-time payment of Rs. 1 billion

Carlton Sports Network (CSN) which was owned by the former President's son, Yoshitha Rajapaksa has also been hit with a Rs.1 billion one-time tax. The Finance Minister also said that the sports channel has not paid a single penny to the government, since inception.

Satellite television operators in the country will also have to pay a one-time tax of Rs.1000 million. In addition to that, Mobile phone operators will have to pay Rs.250 million of onetime tax.

"Losses incurred by SriLankan and Mihin air stand at Rs. 115b. Both companies will be merged to reduce losses,"

Marriage Registration fee is reduced from 5000 to 1000

A tax reduction of 5 percent has been announced on cars with less than 1000cc engine capacity. "Hybrid tax," the Minister said, "to be revised from midnight." 

Meanwhile, Local assembly and manufacturing of motor cycles and three wheeler assembly will enjoy tax exception for spare parts.

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