Betting giant Paddy Power is in line for a substantial tax gain from the Australian Tax Office (ATO), worth EUR26m (AUD36m).
The Ireland-based bookies will receive the money in two tranches. The first is expected in the form of a tax rebate later this year. The remainder of the balance will be issued as a credit, to be used against goods and services tax (GST) payments in future years.
The payments come as the result of an Australian Federal Court ruling relating to GST payments made by Paddy Power’s Australian subsidiaries Sportsbet and IAS from October 2005-October 2009. The ATO will not appeal the judgement.
.Tags: tax | law | business | court | goods and services tax (GST) | tax compliance | Australia | Ireland | tax credits | compliance | enforcement | services | tax authority | Ireland | Australia
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment