Playtech agrees to pay tax au­thor­i­ties

Yorkshire Post - Business - - BUSINESS / NEWS -

Deal:

Playtech has agreed to pay Is­raeli tax au­thor­i­ties €28m (£25m) fol­low­ing an au­dit that probed 10 years of ac­counts.

The FTSE 250-listed gam­bling soft­ware devel­op­ment com­pany said that, fol­low­ing a civil tax au­dit cov­er­ing 2008 to 2017, the coun­try has made “trans­fer pric­ing ad­just­ments” re­lat­ing to Playtech’s ac­tiv­i­ties in Is­rael. As a re­sult, Playtech will stump up the cash and no penal­ties will be im­posed as a re­sult of the au­dit. The ad­di­tional tax charge will be re­flected as an ex­cep­tional item in Playtech’s 2018 ac­counts and pay­ment is ex­pected to be made in the next 30 days.

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