Betfair To Pay Up To €10 Million In Spanish TaxBritish Betting Exchange Becomes Third Company To Admit Back Tax Liability |
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Online betting exchange Betfair will pay up to €10 million in back tax to Spanish authorities ahead of its anticipated receipt of an online sports betting licence on June 1.
The company also said it also intends to apply for an online poker licence and will initially offer a fixed odds sports book rather than its betting exchange which it hopes introduce to the market under a separate licence at a later date.
Like bwin.party and Sportingbet which stated their intention to pay back taxes ahead of the licence issuance on June 1, Betfair will now pay 25 percent gross gaming tax to Spanish authorities.
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