PokerStars Settles Tax Dispute in Italy
On Wednesday, Jan. 13, Amaya Inc. announced to have reached a final settlement with Italy’s tax authorities to resolve a long-standing issue related to PokerStars' activities in the country between 2009 and 2014.
In a note sent to the media, Amaya explained that parties agreed on a €5.9 million payment to Italy's tax board that represents "a final settlement of the matter" and "includes all amounts owing to Italian authorities for the periods at issue.
The company also announced that the entire settlement amount and related expenses "have been paid from the escrow fund established under the merger agreement governing Amaya's acquisition of the PokerStars business."
The settlement reached with Amaya is the second remarkable result achieved by Italy’s tax board in recent times, as it comes shortly after a $318 million tax settlement the governmental body reached with Apple for the company’s operations between 2008 and 2013.