Unibet Pays Spain £2.6 million In Taxes
Unibet is on the verge of closing a financial phase of its tax issues with the Spanish tax authority and will make one lump sum payment of £2.6 million so they can put this episode behind them.
Even though Unibet has agreed to pay back the taxes on gaming activity, the company has confirmed that it will not apply for a business-to-consumer license in Spain. Unibet claims the taxes are intended as a non-recurring payment that is to cover betting duties, interest and penalties which is also recognized as an ‘additional expense in cost of sales’.
The taxes are to be paid in accordance with the betting activity that took place in the country from January of 2009 until May of last year. Unibet is not the only company that has been required to pay back taxes for operations in Spain, other companies such as Bwin.party and Sportingbet have done it as well.
Now that the new tax laws have had clarification on online betting and companies have finalized back taxes, the Spanish gaming authority will be ready to start the gaming market off on a clean slate.