Spanish tax settlements for SportingBet and bwin.party
Operators are starting to cough up back-taxes in an effort to gain a Spanish egaming license. PokerStars still undecided on their stance regarding back-taxes.
Just two weeks before Spain were about to grant egaming licenses to operators, they up and changed the terms - in their own favor.
Suddenly the operators would have to pay taxes on profits going back all the way to 2008. Everybody was working under the assumption that they would only pay 25% profit taxes from the day the licenses were given, but that wasn't going to happen.
The money "owed" by the big operators was significant:
Now both SportingBet and bwin.party have settled officially their "debt" with the Spanish tax man - albeit at substantially lower numbers than first proposed.
SportingBet has paid €17,200,000.
bwin.party has paid €31,000,000.
Both companies obviously hope for a swift grant of their respective licenses.
Last company out, PokerStars, is yet to make an announcement on their plans - if they're staying or going!