Joined: Sep '11
Location: Bosnia and Herzegovina
Age: 41 (M)
Posts: 3048
One of Europe’s biggest online gaming brands, PokerStars.com, has been accused of huge-scale fraud and tax evasion totalling around €300million. The Amaya Gaming owned company is currently being investigated by Italian authorities over the allegations which has seen Italy miss out on a huge chunk of tax income.
Reports suggest that the PokerStars fraud was run through Isle of Man and Malta between 2009 and 2014, meaning that Italy has missed out on a chunk of tax revenue for almost 5 years. The reason that the issue is being investigated by Rome’s financial police is because that over €300 million in revenue was earned in Italy, which according to the country’s gambling laws means that it is taxable in that country.
There are also similar laws in place in the UK, which means that no matter where your gambling site is based, for example in Isle of Man or Gibraltar, if you offer gaming in the UK you will have to pay a tax based on a percentage of the UK players’ spend.
Further allegations have been made involving transactions linked to Halfords Media Italy, which is a subsidiary company of PokerStars. It is reported that this brand had also moved money between Malta and the Isle of Man to avoid paying the high gambling tax rates in force in the country.
What does this mean for players?
Well at present there doesn’t seem to be much change for PokerStars fans, either in Italy or further afield. Despite the PokerStars fraud accusations and investigation, Amaya Gaming, which took over the PokerStars brand in August 2014, issued a statement saying things will carry on as normal.
They anticipate the PokerStars.it Italian site will continue the same operations as usual, and continue on with delivering its popular online poker service in a bid to becoming the biggest brand in the Italian market. The head of corporate communications for the brand, Eric Hollreiser, said that PokerStars has been working with authorities and has paid over €120 million tax in Italy, surmising that these tax issues would not then apply to any future fiscal periods.
Joined: Jan '13
Location: Philippines
Age: 57 (F)
Posts: 857
so pokerstars shows its true color hey!!i told u i got a feeling about this site for long ago.glad some asian players quit playin and make their own pokersites ,the only country left strong is the russians thats why they are most favorite to win...
Joined: Mar '12
Location: United Kingdom
Age: 45 (F)
Posts: 2261
You mean some massive corporations are not paying their full share of the tax they owe?wow...that is a surprise,I thought companies set up business in places like Gibraltar,Malta and the Isle of Man because they loved the views across the ocean. Anyway I am now off to buy a coffee from Costa then get on Google and snap up some bargains on Amazon.........I am glad I don't play on pokerstars.
Joined: Mar '10
Location: Canada
Age: 39 (M)
Posts: 33
Oh this horse donkey again? No dear Country, you cannot obtain taxes from a Company not operating in your borders. You only get to control what happens inside your own place. Welcome to the Global Free Market. You want to make money, innovate on your own instead of coasting on the coat tails of others. Gosh this stuff peeves me off.
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
Well all countries they are trying to get money in any way they can. And only thing they need, is a bunch of morons voting a law to make their stupidity legal. And then go figure. Politicians at their best of course.
