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Aspire Global Group has announced that the firm has reached a retrospective €13.7m settlement with the Israeli Tax Authority (ITA).
The igaming services provider said in a statement that it has agreed to pay a total of €13.7m for the 11 fiscal years 2008-18. The payment to the ITA relates to the previously disclosed tax audit related to management and control jurisdiction, permanent establishment and transfer pricing among the group entities.
The additional tax charge will be reflected as an exceptional item in the group’s accounts for 2019. The agreement with ITA covers the entirety of the group’s activity in Israel and guarantees that Aspire Global won’t have to pay any additional penalties.
Aspire is headquartered in Malta and trades on the Stockholm Nasdaq but has an office in Israel and has strong links to the country.
Last year, the company and its subsidiary AG Communications were was fined by the Swedish authorities for breaching self-exclusion regulations in the country.
