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 international on-line casino industry NetEnt AB (publ) announced that a ruling from Sweden’s Administrative Court of Appeal is granted regarding the organization’s dispute using the country’s Tax Agency.

NetEnt’s previously filed appeal is approved by the Administrative Court of Appeal as well as an previous ruling by the Administrative Court is reversed. Under the latest ruling, the internet casino supplier would be given a SEK1.8-million settlement to cover the appropriate costs pertaining to the process that is ongoing. The company revealed that , neither its earnings, nor financial position would be affected at all.

NetEnt’s dispute aided by the nation’s income tax authority goes to January 2013, once 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 having a tax review have been carried out. The company has reported the aforementioned sum as a contingent liability over the course of the legal dispute.

The agency explained an improper and insufficient motivation to its decision associated with the transfer prices between Net Entertainment NE AB, which is known to be located in Sweden, and its own Malta-located subsidiary.

Following that, Sweden’s tax authority offered an alternative solution interpretation to NetEnt’s advisers on various agreements inked between a few organizations inside the gaming group that is swedish. (more…)

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NetEnt Joins World Lottery Association as Associate Member

NetEnt Joins World Lottery Association as Associate Member

Swedish provider of solutions for the international gaming industry NetEnt announced today that it has linked to the World Lottery Association as an member that is associate. The WLA is a member-based organization that is aimed at advancing and marketing the interests of state-owned lotteries around the world.

Being truly a provider of both video gaming and systems solutions for the international online gambling industry and working together with Lottomatica, the state-run Danske Spil, and other prominent lottery clients, NetEnt has been given the green light to become listed on the WLA as its connect member. The Swedish business’s account may help it further grow its operations by providing its answers to other members of the lottery association.

Currently, the WLA is dealing with gaming organizations and state-owned lotteries from over 80 nations. The relationship also incorporates a number of associate members through the worldwide supplier industry. WLA officials have actually over repeatedly noticed that all members of the relationship are anticipated to follow along with strict social responsibility, protection and risk management, and responsible gaming requirements.

Commenting on NetEnt becoming a co-employee WLA user, Per Eriksson, CEO and President associated with the company that is swedish stated that on line gambling options are about ‘entertainment and excitement’ and that their account is an essential stamp for quality. (more…)

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