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GBP 59.1 MILLION VAT CLAIM BY RANK PLC UPHELD
Rank plc, the British online and land gambling group, will be celebrating this week after the High Court in the UK rejected an appeal by Her Majesty’s Revenue & Customs against a VAT & Duties Tribunal ruling which had approved the company's GBP 59.1 million VAT refund claim.
The VAT was paid over a period of five years starting in January 2003 in respect of games of interval bingo and gaming machines in Rank’s Mecca Bingo clubs. Rank was awarded the massive refund late last year on grounds that the manner in which certain types of gaming machine in Rank’s clubs was treated for tax purposes was inconsistent with European Union rules concerning fiscal neutrality.
Interest on the refund will also be due to the gambling company.
The High Court decision could have positive implications for other gambling companies, a fact which Customs officials noted in a statement, saying: “There are some important legal points to consider before deciding our next course of action. The High Court’s decision affects all suppliers of mechanised cash bingo and we will be issuing a Revenue & Customs Brief shortly advising on how any overpaid VAT can be claimed.”
However, should Revenue and Customs decide to further challenge the refund, it has until June 29 this year to lodge a further appeal, this time against the High Court's findings. And Rank plc has not finished with it yet - a claim for the refund of another GBP 26 million paid in VAT between 2002 and 2005 has also been upheld by both the VAT and DutiesTribunal and the High Court. The tribunal may consider further refunds when it reconvenes later this year.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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