Administrative Court of Appeal Ruling Favors NetEnt in Tax Dispute
Swedish provider of solutions for the international casino that is online NetEnt AB (publ) announced that a ruling from Sweden’s Administrative Court of Appeal is issued concerning the company’s dispute with the nation’s Tax Agency.
NetEnt’s formerly filed appeal is approved by the Administrative Court of Appeal and an previous ruling by the Administrative Court was reversed. Beneath the latest ruling, the internet casino provider would receive a SEK1.8-million settlement to cover the appropriate expenses associated with the ongoing process. The company revealed that , neither its profits, nor budget would be affected by any means.
NetEnt’s dispute utilizing the country’s income tax authority dates back to January 2013, once the supplier announced that the Swedish Tax Agency had imposed additional fees of about SEK94.4 million for the time scale between 2007 and 2010 after a tax review have been carried out. 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 rates between Net Entertainment NE AB, which will be considered to be located in Sweden, and its particular Malta-located subsidiary.
Following that, Sweden’s income tax authority offered an alternate interpretation to NetEnt’s advisers on various agreements inked between several businesses within the gaming group that is swedish. Continue reading Administrative Court of Appeal Ruling Favors NetEnt in Tax Dispute