Tag Archives: tax

SportsPesa and Betin cease Kenyan operations following tax increase

“Severe consequences” are on the horizon for Kenya’s sporting sector and betting revenue following the announcement that both SportsPesa and Betin will cease operations within the country.  The move follows on from a lengthy standoff with the Kenyan government regarding a change to a legal bill which saw a 20% tax increase on game, betting, and lottery winnings. SportsPesa released …

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Malta monitors Franco-German ‘EU digital taxation framework’ proposal

Industry stakeholders are monitoring the European Union’s potential proposal to introduce a ‘digital taxation framework’, aimed at consolidating taxes for digital enterprises with multi-national operations and commercial services. The new scheme is being spearheaded by the governments of Germany and France and aims to crack down on tax avoidance loopholes, which have been perceived to be used by multi-national tech …

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HMRC to appeal Sportech’s £97m VAT Spot the Ball refund

The legal to-ing and fro-ing between Her Majesty’s Revenue & Customs and Sportech over the gambling operator’s overpaid tax claim, worth £97m, is set to continue after HMRC announced it is to appeal the latest decision. The appeal is just the latest installment in the long running attempt by Sportech to reclaim tax the company says it erroneously paid on its Spot the Ball product between 1979 …

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Betfair – Paddy Power merger on course for Q1 2016

The merger between Paddy Power and Betfair is all set to be completed early next year, according to Betfair CEO Breon Corcoran. During the exchange operator’s half year results, the company confirmed that all relevant regulatory filings have been submitted and the merger is on track for completion in Q1 2016, subject to shareholder and regulatory approval Betfair appears to …

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William Hill cites tax increases for £21m drop in profits

William Hill CEO James Henderson has described the past six months as a period of ‘significant regulatory and taxation change for the industry’ as the bookmaker reported a 30% drop in profits after tax to £69.5m. Despite group net revenue marginally growing, even against 2014 World Cup comparatives, operating profit dropped 12% to £155.7m for the first half. Group net …

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Thomas Smallwood – Comment – It’s for player protection reasons and not budgetary concerns…

Thomas Smallwood CEO SKS365 – Group GmbH , parent company of Planetwin365,  sheds insight and opinion on the current industry debate surrounding the conduct and misuse of player protection and tax issues by governments and regulators. Can an appropriate context really be set on the subject matters  which would benefit players, the industry and national governments? Taxation Noun: the act of …

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