Tag Archives: tax

Swedish government proposes gambling tax increase in 2024

Sweden

The Swedish government has announced a proposal within its 2024 budget to increase gambling GGR tax as it believes the country’s market is now steady following legalisation in 2019. From 1 July 2024, Regeringskansliet plans to increase Sweden’s gambling tax from 18 per cent to 22 per cent in hopes of raising an additional SEK 540m (£39.4m) per year. With …

Read More »

SportsPesa and Betin cease Kenyan operations following tax increase

SBC News 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 …

Read More »

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

SBC News 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 …

Read More »

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

SBC News 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 …

Read More »

Betfair – Paddy Power merger on course for Q1 2016

SBC News 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 …

Read More »

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

SBC News 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 …

Read More »