Net Entertainment submitted an appeal in May of this year regarding the Swedish
Tax Agency’s decision to impose additional taxes on Net Entertainment NE AB.
The Swedish Tax Agency has now announced its review decision where they
maintain their previous position which was expected. Net Entertainment disputes
the Swedish Tax Agency’s decision and will now as previously communicated
continue the appeal process in the Administrative Court.
Net Entertainment announced in January that the Swedish Tax Agency had decided
to impose additional taxes on Net Entertainment in the amount of approximately
92.1 MSEK concerning fiscal years 2007-2010 after a tax audit concerning Net
Entertainment NE AB.
The Swedish Tax Agency stated in its’ decision that the transfer pricing that
had been applied between the Swedish based parent company Net Entertainment NE
AB and the Malta-based operations is not motivated. Thus, the Swedish Tax
Agency gave certain agreements between companies within the Net Entertainment
Group a different legal interpretation and economic substance than what Net
Entertainment and it’s expert advisors PwC and the law firm Lindahl do.
As has been communicated previously, Net Entertainment disputes the assessment
that the Swedish Tax Agency has done and filed an appeal in May of this year.
Net Entertainment insists that it has followed applicable laws for taxation of
its operations, which is also supported by the experts that the Company has
consulted on the subject.
The Company will now continue the appeal process in the Administrative Court.
Net Entertainment does currently still not see grounds to make a provision in
the accounts for possible additional taxes related to this matter.
For additional information please contact;
Maria Hedengren, CFO Net Entertainment; Phone +46 8 57 85 45 00
Elisabeth Lennhede, Communications Director Net Entertainment; Tel +46 709 12
This information is such information that Net Entertainment NE AB (publ) is
required to publicly disclose under the Securities Market Act (2007:518) and/or
Financial Instruments Trading Act (1991:980). The information was submitted for
publication on September 12th, 2013 at 2.00 pm.
About Net Entertainment
Net Entertainment is a premium supplier of digitally distributed gaming systems
used by some of the world’s most successful online gaming operators. The Net
Entertainment casino is a complete gaming solution comprising both a complete
management platform and a full suite of high quality games. Operators are
provided a customized casino that is easily integrated ensuring short time to
market and a cost efficient operation. Net Entertainment is listed on Nasdaq
OMX Stockholm (NET-B). More information about Net Entertainment is available at