Maltese Operators Schy Away From Paying Taxes
Progress made in malta’s gambling business can be undermined due to non-payment of taxes and money laundering by operators. Investigation to counter such crimes posed by the largest in the country led the government to gambling companies licensed on the island.
Italian tax police during the investigation «glaskey» 60 people arrested, as well as 1 billion euros ($ 1.1 billion) earned by illegal. Sks365 group, managing the company of the italian bookmaker planetwin 365, was charged with tax evasion. The total amount of unpaid funds is 124 million euros. The operator kneaded in the scandal is a major bookmaker. Also on the list of its violations includes hiding not declared income of 4 billion euros in the period 2015-2016. To some extent, the problem with non-compliance with tax legislation is associated with a global economy, reports gambling insider.
The tax3 committee of the european parlieent, this trend was studied, and the information published in the last five years regarding luxleaks, panama papers, football leaks and paradise papers, – expanded. The report contains criticism of seven eu members for flaws in tax systems. Cyprus, belgium, luxembourg, hungary, ireland, netherlands and malta.
Also, the report says that failures are the cause of aggressive tax planning and undermine the integrity of a single european market. The gambling insider publication reports that malta seeks to restore its reputation, disturbed due to tax evasion and money laundering. Officials and politicians did a hard work so that island acted as a gambling hub, but all this collapses if the eu or another regulatory authority intervenes and takes the situation under its control.
Recall, due to taxes, the productivity of the lottery of kazakhstan’s has decreased.