Administrative Court of Appeal Ruling Favors NetEnt in Tax Dispute
Swedish provider of solutions for the worldwide casino that is online NetEnt AB (publ) announced that a ruling from Sweden’s Administrative Court of Appeal was released about the business’s dispute utilizing the nation’s Tax Agency.
NetEnt’s formerly filed appeal is approved by the Administrative Court of Appeal as well as an earlier ruling by the Administrative Court has been reversed. Beneath the ruling that is latest, the internet casino supplier would get a SEK1.8-million compensation to cover the legal expenses associated with the process that is ongoing. The organization revealed that , neither its earnings, nor position that is financial be impacted by any means.
NetEnt’s dispute with the nation’s tax authority goes to January 2013, when the provider announced that the Swedish Tax Agency had imposed additional taxes of about SEK94.4 million for the time scale between 2007 and 2010 following a income tax review have been carried out. During the period of the legal dispute, the business has reported the aforementioned amount being a contingent liability.
The agency explained its choice with an incorrect and inadequate motivation associated with transfer prices between web Entertainment NE AB, which is regarded as based in Sweden, and its particular Malta-located subsidiary.
Following that, Sweden’s tax authority offered an alternate interpretation to NetEnt’s advisers on various agreements inked between a few organizations inside the gaming group that is swedish.