Sri Lanka, Aug. 31 -- Around 60% to 70% of Sri Lanka's betting, gaming and casino activity is now conducted online, with almost no tax being collected on it, tax expert Suresh Perera of KPMG Sri Lanka told Gold FM.

Perera said the scale of the leakage was enormous, precisely because the industry had moved online, and that the state was, in effect, receiving zero revenue from what is now the fastest-growing part of the sector.

"This online casino is a big industry in Sri Lanka," he said. "During the discussions of the Committee on Public Finance, it was pointed out that almost 60 to 70% of the betting and gaming and casinos is happening online in Sri Lanka now, so it has moved online."

He explained that the difficulty in collecting tax ...