Courts in Germany and Greece determined that the gambling giant owes millions in taxes.
Greece.- Paddy Power Betfair has been hit with a €49 million tax bill in Greece and Germany: a German court determined that the company owes €36 million related to a 2012 tax assessment of Betfair Exchange, while it owes €13 million in taxes in Greece.
The company operated in Germany until November 2012 and it’s believed that the €13 million it owes in Greece is much higher than the total revenue that it collected in the country during that period.
Paddy Power Betfair said that it has already paid up in Greece, and it is seeking to recover the cash: “The group strongly disputes the basis of these assessments, and in line with the legal and tax advice we have received, is confident in our grounds to appeal. We therefore intend to do so.”
Moreover, the company added: “Pending the outcome of these appeals, we paid the total Greek liability in January 2019 while we await clarity with respect to the timing of any cash payment in Germany.”