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TAX REFUND BONANZA FOR RANK
The UK online and land gambling group Rank Group Plc could be in for a major windfall in the form of a tax refund following a decision this week by the VAT and Duties Tribunal, which has ruled that, from November 2003 at least, the UK's Value Added Tax treatment of certain types of gaming machine was inconsistent with European Union rules concerning fiscal neutrality.
This had resulted in an overpayment of VAT by Rank that could be as high as GBP 25 million.
Rank's claim for repayment of over-declared VAT was submitted to HM Revenue and Customs in 2005. It relates to the fact that, prior to December 2005, certain types of gaming machine were exempt from VAT while similar gaming machines were subject to VAT.
The company stresses that this week's ruling is an interim decision and a second stage of the litigation is scheduled for later this year. The Tribunal has indicated that there is a strong likelihood that the case will be referred to the European Court of Justice. As such it is unlikely that there will be any material benefit to Rank in the current year.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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