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bet-at-home, Betclic Everest Group-owned sports betting operator, has revealed that it expects to receive an €11.9m ($13.1m) bill from the Austrian tax authorities, relating to the activities of its Linz-based subsidiary.
Austria is conducting a tax assessment on bet-at-home.com Entertainment through the Ministry of Finance. According to bet-at-home, auditors have questioned the level of internal transfer pricing within the business.
This concerns the sale of goods from one division of a company to another. Divisions in jurisdictions with a higher tax rate can pay larger sums for certain products and services from another in a region with a lower tax rate, in order to reduce a business’ overall tax burden.
The company expects to pay €11.9m as it correspondent to the five-year period following discussions with the authorities. bet-at-home also plans to make changes to its intercompany invoicing practices, which should increase taxes incurred by bet-at-home Entertainment to €5.5m in 2019.
