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PokerStars Italian subsidiary is allegedly painted with huge tax fraud - Italy
Internationally renowned poker room PokerStars has been working with Halfords Media Italy S.r.l. for a couple of years now to operate its gambling services in Italy. Recently, PokerStars echoes among the Italian poker community, not for its incredible reputation as a leading gambling operator in Italy, but an odd fact. Actually, the Italian tax authorities (Guardia di Finanza) put Halfords Media Italy S.r.l. under investigation for tax fraud. This Italian subsidiary of PokerStars is allegedly implicated in a tax evasion scandal by misreporting about $ 300 million of its profits between 2009 and 2014. Italys financial Police said that the fraud was uncovered following a major transactions-focused operation called "ALL-IN" that they carried out with the helping hands of different companies working on behalf of international groups. The said operation allowed them to find out the figures Halfords did not declare to the countrys tax office.
Statement released by the authorities suggested that Halfords Media Italy would intentionally write down a false declaration of its profits in order to escape from the countrys high taxation on gambling businesses. The suspicious maneouver would get unveiled following a thorough years-long audit conducted by the Guardia di Finanza. Since its very first operation in the Italian market, PokeStars has been establishing a neat approach to the Italian tax authorities and paid 120 million since the audit was launched, and this, to ensure compliance with Italys tax regulations. PokerStars Head of Corporate Communication, Eric Hollreiser, now reassures players that the investigation will not affect the functioning of its ".it" poker room.
Source: Oliver JOHNSON
Thursday, 12 March 2015
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