Austrian Tax Authorities Hit Betclic Everest Group with Huge Tax Bill

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Austrian Tax Authorities Hit Betclic Everest Group with Huge Tax Bill

Betclic Everest Group-owned bet-at-home receive an €11.9m (£10.7m/$13.1m) bill from the Austrian tax authorities

Betclic announced they were expecting to receive a 13.1 million bill that is related to its Linz-based subsidiary, bet-at-home. Bet-at-home Entertainment is a wholly owned subsidiary that owns the Gibraltar and Malta based companies. The company said they have been subject to an ongoing tax assessment being conducted by the Austrian Ministry of Finance.

Bet-at-home is being questioned by the auditors on the level of pricing for its internal transfers. This includes the sale of goods from one part of the company to another within different jurisdictions. Every jurisdiction has a higher tax rate than the other and can be subject to paying bigger amounts on certain services and products from another jurisdiction with a lower rate. This in return raises concerns about the business’ overall tax obligations.

Bet-at-home is claiming, or expecting, they will have to pay more than 11.8 million in back taxes owed over the course of the last 5 years. The company also said they have made changes to their process and have increased its incurred taxes for this year to 5.5 million.

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