Administrative Court of Appeal Ruling Favors NetEnt in Tax Dispute
Swedish provider of solutions for the worldwide on-line casino industry NetEnt AB (publ) announced that a ruling from Sweden’s Administrative Court of Appeal happens to be granted concerning the company’s dispute utilizing the country’s Tax Agency.
NetEnt’s formerly filed appeal happens to be authorized by the Administrative Court of Appeal as well as an previous ruling by the Administrative Court has been reversed. Beneath the latest ruling, the internet casino provider would get a SEK1.8-million settlement to cover the appropriate expenses linked to the ongoing process. The company revealed that , neither its earnings, nor financial position would be affected at all.
NetEnt’s dispute because of the nation’s tax authority goes to 2013, when the supplier announced that the Swedish Tax Agency had imposed additional taxes of about SEK94.4 million for the period between 2007 and 2010 after a tax audit had been conducted january. The company has reported the aforementioned sum as a contingent liability over the course of the legal dispute.
The agency explained an improper and insufficient motivation to its decision associated with the transfer pricing between web Entertainment NE AB, that will be considered to be based in Sweden, and its particular Malta-located subsidiary.
Following that, Sweden’s tax authority offered an alternative interpretation to NetEnt’s advisers on various agreements inked between several companies within the gaming group that is swedish. Read More