Administrative Court of Appeal Ruling Favors NetEnt in Tax Dispute

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 given regarding the company’s dispute utilizing the nation’s Tax Agency.

NetEnt’s previously filed appeal has been authorized by the Administrative Court of Appeal as well as an earlier ruling by the Administrative Court is reversed. Under the latest ruling, the internet casino provider would get a SEK1.8-million payment to cover the legal expenses linked to the process that is ongoing. The company revealed that , neither its profits, nor budget would be affected by any means.

NetEnt’s dispute with all the nation’s tax authority goes to January 2013, whenever provider announced that the Swedish Tax Agency had imposed extra fees of about SEK94.4 million for the period between 2007 and 2010 after a tax audit have been conducted. During the period of the appropriate dispute, the company has reported the aforementioned amount being a contingent liability.

The agency explained its decision with an poor and insufficient motivation of this transfer pricing between Net Entertainment NE AB, that will be known to be based in Sweden, and its 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 within the Swedish video gaming group. Continue reading “Administrative Court of Appeal Ruling Favors NetEnt in Tax Dispute”

NetEnt Joins World Lottery Association as Associate Member

NetEnt Joins World Lottery Association as Associate Member

Swedish provider of solutions for the worldwide video gaming industry NetEnt announced today so it has for this World Lottery Association being an member that is associate. The WLA is really a member-based organization that aims at advancing and promoting the interests of state-owned lotteries around the world.

Being fully a provider of both gaming and systems solutions for the international online gambling industry and using Lottomatica, the state-run Danske Spil, as well as other prominent lottery customers, NetEnt has been provided the green light to become listed on the WLA as its connect member. The Swedish company’s account could help it further grow its operations by providing its solutions to other members associated with lottery association.

Currently, the WLA is using gaming companies and lotteries that are state-owned over 80 nations. The relationship also contains a number of associate people from the global supplier industry. WLA officials have actually over and over repeatedly pointed out that all people for the association are required to check out strict social responsibility, security and danger management, and responsible gaming standards.

Commenting on NetEnt becoming an associate WLA user, Per lobstermania slot machine app download Eriksson, CEO and President associated with the Swedish business, stated that online gambling options are about ‘entertainment and excitement’ and that their membership is a significant stamp for quality. Continue reading “NetEnt Joins World Lottery Association as Associate Member”