New Ent faces hefty additional tax bill

Monday November 5, 2012 : TAX AGENCY TO REASSESS NET ENTERTAINMENT LIABILITY
 
Company faces hefty additional tax bill
 
Net Entertainment has advised interested parties that the Swedish Tax Agency (STA) may reassess the firm’s tax liabilities to the tune of an additional SEK 88 087 802 (around GBP 8.2 Million).
 
The STA presented a preliminary opinion following a tax audit on Net Entertainment AB for the 2001 to 2010 fiscal period saying it is considering imposing an additional tax of SEK 67 492 226 along with a tax surcharge of SEK 20 595 576.
 
The company believes the determination from the STA is unfounded and that Net Entertainment AB is fully tax compliant and paid up.
 
The STA will deliver its decision before the year is out with a Net Entertainment statement saying it will appeal an unfavourable decision should it come down to it.