× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2020 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
IN-DEPTH 18 February 2020
A decade to remember

Zimpler provides a complete In and Out payment solution for online services. That means we take care of identifying the ...
Systems and Software
We have partnered up with deVRealm in a joint venture for the development of new gambling technology platforms. The primary ...
Newgioco Group
Systems and Software
Newgioco Group, Inc. (OTCQB:NWGI) is a premier leisure betting technology company providing regulated online and land-based gaming and sports ...
Digital Isle of Man
Legal and Jurisdictions
Digital Isle of Man is responsible for the thriving Digital sector in the Isle of Man, spanning the Island's international ...
Systems and Software
NSoft is an award - winning internationally recognized software solutions provider for betting industry. The company has more than 200 employees ...
Systems and Software
The Leading iGaming Software Supplier in Asia
1xPartners is the innovative and exciting affiliate program offered by 1xBet, one of the world's leading sportsbooks and casinos. Offering ...
PR and Marketing
ActiveWin has ripped up the rulebook on the traditional agency prototype. Our model is based on performance - as you ...
Global Gaming Awards
Industry Awards
The Global Gaming Awards London recognise the most innovative companies and individuals of the gaming world. The Awards are powered ...
Systems and Software
BetConstruct is a global award-winning technology and services provider for online and land-based gaming industry. BetConstruct's innovative and proven offerings ...