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UPDATED: Guardia di Finanza Accuses a Malta-based gambling operator for unfaithful tax return

Niji Narayan

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Photo source: usaonlinecasino.com
Reading Time: 2 minutes

 

Guardia di Finanza, the financial police in Italy, has accused SKS365, the Malta-based gambling operator, for unfaithful tax return.

The fiscal probe conducted by the Guardia di Finanza law enforcement agency in the coastal city of Reggio Calabria concluded that SKS365 had failed to declare about 4 billion euros in taxable income between 2015 and 2016. Investigators said the company made the money by “carrying out gambling activities illegally in Italy.”

Ramphastos Investments acquired SKS365 for 158 million euros in August 2016 and November 2017. During the police sweep in 2018, the prosecutor’s office clarified that “no claims of responsibility” emerged against the company’s new owners.

SKS365 told that its current management has no links to the company’s previous activities and that it is now suing the company’s previous owners and seeking compensation.

Colonel Cesare Antuofermo, a Guardia di Finanza officer involved in the case, told that the legal entity liable for the tax offenses remains the same, even if the corporate structure — and its shareholders — have changed.

Antuofermo added that the latest allegations are “the largest ever tax evasion claim issued against an online gambling company in Italy.”

SKS365 will now have 60 days to make its case to the Italian Revenue Agency, which has taken over the tax evasion case from the Guardia di Finanza. The tax authority will then issue a notice that formally certifies the amount of taxes owed by SKS365 and the payment deadline.

In a statement, SKS365 told OCCRP it “reserves the right to take legal action aimed at protecting its interests and those of its investors. The company does not provide comments or specific information on its legal actions.”

LATER, SKS365 has sent a clarification notice to our press room which states the following:

Technical explanations

1) Firstly, it should be noted that the document issued by the Tax Police of Reggio Calabria (Guardia di Finanza, “GDF”) to SKS365 is a tax inspection report (Processo Verbale di Constatazione, “PVC”).

Pursuant to the Italian law, the PVC is a document issued by the Italian Tax Authorities at the conclusion of a tax inspection which summarizes the findings/potential violations (rilievi) found during the tax inspection.

In any case, the PVC (i) does not contain a definitive assessment of the potential tax violations described therein; and (ii) does not contain any payment obligation for the taxpayer – the taxpayer will not be forced to pay any amount until the final tax assessment is issued.

Within 60 days from the issuance of the PVC the taxpayer has the right to file a defensive brief (osservazioni al PVC) to the competent office of the Italian Tax Authorities (which varies depending on the specific tax involved).

After the issuance of the PVC, the competent office of the Italian Tax Authorities will evaluate whether the findings of the PVC by issuing the definitive tax assessment can be confirmed or not. Please note that should the competent office of the Italian Tax Authorities issue a tax assessment, it is obliged to specifically evaluate the content of the defensive brief filed by the taxpayer if any.

2) Secondly, it has to be pointed out that the expression “tax evasion”, reported by the press, is not coherent with the PVC and with the findings/potential violations therein contained.

Indeed, the GDF challenged to SKS365 the violation of unfaithful/incorrect tax return (infedele dichiarazione) mainly deriving from the alleged wrong allocation of taxable income between SKS365 (which is resident in Malta) and its Italian permanent establishment.

The GDF of Reggio Calabria is contesting a non-correct allocation of income between Italy and Malta.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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EGT Interactive is circling back to Budapest with a special participation at CEEGC

Zoltan Tundik

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EGT Interactive is thrilled to announce its consecutive appearance at the Central and Eastern European Gaming Conference and Awards (CEEGC). Georgi Dimitrov, Head of Legal & Compliance at the company, will be once again joining the discussions as one of the speakers at this special event. He will participate in the panel titled “Regulated Central and Eastern European jurisdictions” focusing on the evolution of clearly regulated markets. The targeted jurisdictions are Bulgaria, Romania, Czech Republic, Croatia and Slovenia.

Georgi Dimitrov has started his career in EGT Interactive as a legal counsel, with a focus on legal, regulatory and technical compliance matters related to the iGaming industry. He specializes in international gambling regulation and provides guidance on licensing and certification frameworks, policy drafting, and compliance processes. His line of work involves communication with focal stakeholders in the business such as testing labs, regulators and operators. He has background in company structuring, M&A, business and corporate development and extensive expertise in competition law. Recently he became Head of the “Legal and Compliance” department at EGT Interactive.

 

The event will take place on the 24th of September at Ritz-Carlton, Budapest, Hungary.

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Week 38 slot games releases

George Miller

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Week 38/2019 slot games releases
Reading Time: 3 minutes

 

Have a look at this week’s latest slot releases!

We begin with another release from Play’n Go, the fun-filled game Mission Cash. The game has its roots in the spy films and TV series of the ‘50s and ‘60s, taking inspiration from classics such as The James Bond Series and The Man from U.N.C.L.E, but also newer titles like Austin Powers and Kingsman: The Secret Service.

Play’n GO Are on a Mission with their Newest Release

 

Realistic Games has added a new 3-reel version of its popular title Fireworks to its ever-growing portfolio of games. Fun Size Fireworks retains the featurewhich has been a proven success with players of the 5-reel version, with a bonus round that is reached when a player gets stacked symbols on each of the 3 reels. A reel will then be randomlyselected and a win of one or more win lines will be achievedoffering the player a maximum jackpot ofx250 their starting stake.

Realistic - Fun Size Fireworks

 

Yggdrasil is under starter’s orders to release its latest slot, Racing Lovers, with players invited to saddle up for their biggest thrill ride yet as they chase the championship trophy for huge rewards. Ladies and gents, hold onto your hats as the starting gates open and the racing begins in this new immersive slot set in the fastest course of them all.

Yggdrasil’s latest slot Racing Lovers

 

Microgaming has launched its latest online slot Tweethearts, developed exclusively by Just For The Win. Set in a colourful paradise, nesting love birds bring their feathered mystique to this exciting five-reel, 17-payline slot. Players entering the beautiful jungle of paired-up parrots will find the Double Lucky Line, present throughout the game, perched on the middle row across all five reels. When double symbols land on the Double Lucky Line, they are counted as two symbols for any winning combinations or free spin symbols.

Microgaming - Tweethearts

 

Stick ‘Em, a 5×4 video-slot follows Canny the Can on an adventure which includes features such as sticky win spins, free spins with high paying symbols and an exciting bonus wheel with three levels of progression! Marcus Codes, COO at Hacksaw Gaming commented:“We’re delighted to release our very first slot today after being exclusive with Leo Vegas for the past 2 weeks. We have seen fantastic numbers and feel Stick Em will be a great hit within the industry. There is more to come from Hacksaw, this is just the beginning.”

Stick'em - Hacksaw Gaming's Very First Slot Release!

 

Pariplay Ltd., a gaming technology company serving iGaming operators, land-based casinos and lotteries, has announced the Swedish release of its Viking Glory online slot via an exclusive partnership with Svenska Spel Sport & Casino.

Pariplay Partners with Svenska Spel Sport & Casino for Swedish Release of ‘Viking Glory’ Slot

 

Kindred Group has partnered with Play’n GO in an exclusive release of Troll Hunters 2, the sequel to the record-breaking first chapter of the Troll Hunters saga. “Kindred has recently invested heavily in the quality of their exclusive games. We believe that product quality is ultimately what customers will recognize and value. This is what will set us apart from the competition and lead the way forward in casino,” Ale Rallo, Games Development Manager of Kindred Group said.

Troll Hunters 2 Launches on Kindred Platforms

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Sports Betting Bill of Michigan Moves Forward

Niji Narayan

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Sports Betting Bill of Michigan Moves Forward
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A sports betting bill would allow organised sports betting in Michigan casinos and online was passed out of a state house committee. State Representative Brandt Iden of Kalamazoo is sponsoring the legislation.

“Because this is already going on in the market place so we can protect those people who want to play and want to play legally, and we can, you know, make the state a little bit of money, which I think is also a positive,” Iden said.

Iden hopes the bill continues to make its way through the legislature and onto Governor Gretchen Whitmer’s desk before Superbowl season.

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