× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2017 AffiliateCon
NEWS 26 January 2018
GVC Holdings disputing €186m Greek tax bill
By Robert Simmons
Global betting and gaming heavyweight GVC Holdings has announced that it will file an appeal against a potential €186.77m tax bill levied by the Greek government.

The dispute centres on tax payable by a number of its subsidiaries including Sportingbet plc during the period 2010 and 2011. Sportingbet was acquired by GVC Holdings in 2013.

In a statement, GVC claims that the tax calculation, made by the Greek Audit Centre for Large Enterprises is “substantially higher by multiples of the total Greek revenues generated by the subsidiary during the Period” and after seeking legal advice has decided to appeal the tax bill in the Greek courts.

To enable the group's Greek subsidiary to operate in the interim while the case is proceeding, GVC have confirmed their intention to enter into a voluntary payment scheme to pay approximately €7.8m a month over the next 24 months.

However GVC have confirmed that “entering into such an arrangement is not an admission that the Assessment is correct and the Group will seek to recover such payments.”

In order to make these payments, the GVC Holdings board instituted a provision to hive off approximately €200m in the group's 2017 financial accounts to cover the period up to the end of 2017.

RELATED TAGS: Online | Industry | Sports Betting | Legal & Regulatory | Poker | Casino
DISCUSS THIS ARTICLE
IN-DEPTH 21 February 2018
Blockchain: Better the Devil you know?
The battle of the blockchain rages on. The technology that underpins cryptocurrency has proved deeply divisive, both in the gaming industry and wider financial markets. Up until now blockchain has suffered from a reputation as a tool for circumvention of controls and a platform for the underworld, but could the decentralised and transparent nature of the technology transform the gaming landscape as it promises? We asked two of the world's leading experts on blockchain gaming if it has finally come of age
READ MORE
PREMIUM CONNECTIONS