par Bet-at-home.com AG (isin : DE000A0DNAY5)
EQS-Adhoc: bet-at-home.com AG: Swiss Federal Supreme Court rules in first instance in dispute over VAT liability for sports betting
EQS-Ad-hoc: bet-at-home.com AG / Key word(s): Legal Matter
bet-at-home.com AG: Swiss Federal Supreme Court rules in first instance in dispute over VAT liability for sports betting
11-Jul-2024 / 18:04 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
PUBLICATION OF INSIDER INFORMATION PURSUANT TO ARTICLE 17 OF REGULATION (EU) NO. 596/2014
Swiss Federal Supreme Court rules in first instance in dispute over VAT liability for sports betting
bet-at-home.com AG (hereinafter referred to as the "Company") earlier disclosed in the combined management report for the fiscal year 2023 that the Swiss Federal Tax Administration (hereinafter referred to as the "FTA") assumed that the sports betting services offered in Switzerland by the Company's subsidiary, bet-at-home.com Internet Ltd, Malta, is subject to VAT. The FTA requested that bet-at-home.com Internet Ltd. be registered in the register of persons liable for VAT and assessed tax claims for the payment of VAT for the tax periods from 2013 to 2017. Reference is made to the respective statements in the combined management report for the fiscal year 2023.
bet-at-home.com Internet Ltd. and the Company are of the opposite opinion. bet-at-home.com Internet Ltd. initially filed an objection with the FTA against the FTA's decisions and, following its rejection by the FTA, filed an appeal with the Swiss Federal Supreme Court.
The Swiss Federal Supreme Court approved the appeal in a judgment announced to bet-at-home.com Internet Ltd. on 10 July 2024 (whose initial assessment was made today) to the extent that it assumes that the absolute limitation period for the right to determine the tax claim expired with regard to the tax period of 2013. Apart from that, the appeal was dismissed.
The judgement is not final. To the extent that the appeal was dismissed, bet-at-home.com Internet Ltd. and the Company are assessing to file an appeal and its potential prospects of success, including the question which impact the judgement might have on the Company's recent forecast for the 2024 financial year (in particular due to a change in risk assessment). The potential risk to bet-at-home.com Internet Ltd. from a possible obligation to pay VAT in Switzerland amounts to EUR 1.3 million for the period from 2014 to 2017 and EUR 2.7 million for the period from 2018 to 30.06.2024 (plus interest payments in each case). At present, an immediate outflow of funds is not to be expected, as any tax claims of the FTA are suspended until a final court decision is made.
End of Inside Information
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| Language: | English |
| Company: | bet-at-home.com AG |
| Tersteegenstrasse 30 | |
| 40474 Düsseldorf | |
| Germany | |
| Phone: | +49 211 545 598 77 |
| Fax: | +49 211 545 598 78 |
| E-mail: | ir@bet-at-home.com |
| Internet: | www.bet-at-home.ag |
| ISIN: | DE000A0DNAY5 |
| WKN: | A0DNAY |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1944683 |
| End of Announcement | EQS News Service |
1944683 11-Jul-2024 CET/CEST