bwin.party To Pay €33 Million Spanish Back TaxesCompany To Pay €33 Million To Clear Path For License While Sportingbet Still In Talks |
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bwin.party today announced it would pay €33 million to Spanish authorities in back taxes and penalties to clear the way for receiving an online gambling license next month.
The company accepted that it was liable for back tax under two laws, one from 1966 and one from 1977, which had previously been applicable to offline gambling activities in Spain and to some non-fixed odds bets.
Bwin.party said, “… together with a number of other operators we have today completed a tax self-assessment in accordance with the Spanish Tax Authority’s requirements and as a result are making a payment of €25.6m plus surcharges and interest of up to €8m.
“Having taken these steps, we believe we have now fulfilled all requirements and look forward to receiving our licence and entering the Spanish market.”
Elsewhere Sportingbet, which was ordered to shut its Spanish website earlier this year, confirmed it was in duscussions with the Spanish authorities over payment of back taxes from January 2009.
Analyst Daniel Stewart & Co. estimated a potential settlement to be no higher than €20 million.
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