International edition
September 23, 2020

Ruling does not have any impact on company's reported earnings or financial position

Administrative Court of Appeal rules in NetEnt’s favor in tax dispute

Administrative Court of Appeal rules in NetEnt’s favor in tax dispute
The Administrative Court of Appeal has approved NetEnt’s appeal and reversed the earlier ruling by the Administrative Court and the Swedish Tax Agency’s review.
Sweden | 03/10/2016

The Administrative Court of Appeal has approved NetEnt’s appeal and reversed the earlier ruling by the Administrative Court and the Swedish Tax Agency’s review.

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etEnt will receive 1.8 MSEK in compensation for legal costs in relation to the dispute but apart from this, the ruling will not have any impact on the company’s reported earnings or financial position.

The ruling by the Administrative Court of Appeal concerns the Swedish Tax Agency’s decision to impose additional taxes on NetEnt in the amount of approximately SEK 94.4 million with regards to the financial years 2007–2010, which is the amount that NetEnt has reported as a contingent liability during the course of the dispute.

NetEnt and its legal advisors have insisted that the company has complied with applicable laws for taxation of its operations, and has thus not made any provisions in relation to the dispute.

Hence, the ruling will not impact NetEnt’s reported earnings or financial position apart from the compensation for legal costs.

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