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GVC holdings to challenge Greek government on back tax

29 Jan 2018

gvc holdings challenge Greek governmentGVC Holdings, the parent company of Sportingbet, Bwin and various other sports betting subsidiary sites have announced they will file an appeal against the Greek government, following a tax request at the amount of €186.77. According to the Greek finance ministry, this request concerns unpaid taxes from Sportingbet during the period of 2010 to 2011, a brand that was acquired by GVC in 2013. Although GVC has not challenged the tax altogether, they claim that this amount does not represent Sportingbet's revenue in that period.

What was GVC's Position?

GVC has provisionally agreed to enter a payment scheme of €7.8 million per month for the next 24 months in order to maintain their local license in Greece, however, according to a company spokesperson, they will try to recuperate their losses as soon as the court rules in their favor. This has been put forth crystal clear as per the following statement “entering into such an arrangement is not an admission that the Assessment is correct and the Group will seek to recover such payments". What remains unknown for the moment is when the case be will be assesed by a court of law and how will each side respond to the ruling.

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