Playtech Will Pay Israel € 28 Million
Playtech, technology developer for online gambling, concluded an agreement with the israeli authorities after the tax audit. The company agreed to pay €28 million ($ 32 million) taxes for the period from 2008 to 2017.
The announcement was made on january 2, although the agreement was achieved on december 31, 2018. Adjustment occurs due to transfer pricing of a business conducted in israel, or, in other words, transfers between various divisions of the company.
Tax adjustment – the result of an ordinary check, but this is not the first news associated with playtech tax payments. In december, representatives of the company stated investors that they will refuse their forecast of profit for 2019 due to increasing taxes, which, according to their estimates, will be €20-25 million. Increased taxes related to the adoption of new legislation in italy. After the announcement of the promotion of playtech lost 7%.
In december, a subsidiary of playtech – quickspin – it was announced one of the first providers who will be allowed to enter an adjustable swedish market. They also announced a new partnershipsis with iovation and the launch of the fist online casino in poland. However, it reported that in connection with innovations in the italian and israeli markets, these successes of the company are unlikely to help raise prices for promotions playtech in the near future.
In spite of «small» trouble, playtech continues to master new markets and make advantageous partnerships.
Recall that playtech plc, strengths is ability to prevent fraud, using real-time identification software.
See also: what is a gambling business tax?