NetEnt Loses Swedish Tax Case

Thursday November 6,2014 : NET ENTERTAINMENT LOSES ANOTHER ROUND IN TAX DISPUTE
 
Sweden’s Administrative Court affirms the tax reassessment – NetEnt appeals to the Administrative Court of Appeal.
 
The Swedish online gambling software provider Net Entertainment NE AB has received the decision from the Administrative Court regarding its dispute with the Swedish Tax Agency
 
The Administrative Court has ruled in favour of the Tax Agency’s decision to impose additional tax for revenues in the business carried out in subsidiaries in Malta. The matter concerns additional tax of approximately SEK 92.1 million for fiscal years 2007-2010.
 
A statement from the company Thursday asserts:
 
“NetEnt insists that the company has followed applicable laws for taxation of its operations and will appeal the decision to the Administrative Court of Appeal.
 
“The company believes that it is more likely than not that the Administrative Court of Appeal will rule in NetEnt’s favour. This assessment is supported by the company’s expert advisers.
 
“Therefore the company does not currently see the need to make any provision in the accounts for possible additional taxes related to this matter.”