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 happens to be released concerning the organization’s dispute with all the country’s Tax Agency.
NetEnt’s previously filed appeal was authorized by the Administrative Court of Appeal and an earlier ruling by the Administrative Court was reversed. Beneath the latest ruling, the internet casino provider would receive a SEK1.8-million payment to cover the appropriate expenses pertaining to the process that is ongoing. The organization revealed that , neither its profits, nor financial position would be affected at all.
NetEnt’s dispute with all the nation’s tax authority dates back to January 2013, as soon as the supplier announced that the Swedish Tax Agency had imposed extra fees of about SEK94.4 million for the time scale between 2007 and 2010 after a tax audit had been carried out. During the period of the legal dispute, the business has reported the aforementioned sum as being a contingent obligation.
The agency explained an improper and insufficient motivation to its decision regarding the transfer pricing between web Entertainment NE AB, which will be regarded as based in Sweden, and its particular Malta-located subsidiary.
After that, Sweden’s income tax authority offered an alternative solution interpretation to NetEnt’s advisers on various agreements inked between several companies within the Swedish video gaming team. (more…)