Wednesday February 3,2016 : BETSSON TO SETTLE HISTORICAL TAX WITH GERMAN GOVERNMENT
To pave the way for the potential award of a gaming license.
Betsson is submitting a tax return for historic tax on sport betting to the German Government amounting to around SEK 113 Million (GBP 9,180,359).
The company said while it still maintains it is not liable to pay historic tax, it believes there will be considerable opportunities in a future regulated German gaming market of which it aims to be a part of with the submission of an application for a gaming license as soon as the process becomes available.
Betsson is making the payment to avoid negative repercussions in future dealings and applications with German gaming authorities for entry into a market it believes may become one of the largest in Europe but says it still intends to legally challenge the tax liability.
Following the initial payment of historical tax, the company will submit returns for turnover-based gaming tax amounting to 5 percent of German players stakes each month going forward.