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RankPlc OverPaid VAT Returned
Posted 3/23/11 : Online and land gambling group’s tax refund of GBP 74.8 million confirmed - but there's another hurdle ahead
The UK-based online and land gambling group Rank plc has received from Her Majesty’s Revenue and Customs GBP 74.8 million in overpaid VAT.
The repayment covers VAT paid on games of bingo from 1973 to 1996. Rank is advised that it will receive around GBP 79.5 million of interest relating to this claim later in the month.
The repayments follow successive rulings in Rank’s favour in both the First-tier Tribunal’s tax chamber (formerly the VAT and Duties Tribunal) and the High Court.
Her Majesty’s Revenue and Customs has appealed these rulings and the claims will now be considered by the European Court of Justice. It is expected that this appeal will be heard later in 2011, the group announced, adding that if HMRC is successful in its appeal, Rank will make the appropriate repayments.
The claims concern the inconsistent application of VAT to bingo revenue generated by Rank’s businesses. It is Rank’s contention that this inconsistency contravened the European Union’s principle of fiscal neutrality.
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 -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
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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