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Flutter hit with £40m foreign tax claims

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'Flutter was issued with a Greek tax assessment for the financial years 2012, 2013 and 2014, relating to paddypower.com's interim licence.'

'Flutter was issued with a Greek tax assessment for the financial years 2012, 2013 and 2014, relating to paddypower.com's interim licence.'

'Flutter was issued with a Greek tax assessment for the financial years 2012, 2013 and 2014, relating to paddypower.com's interim licence.'

Flutter, the Irish-headquartered gambling group formerly known as Paddy Power Betfair, has paid nearly £40m (€46m) to tax authorities in Germany and Greece in respect of legacy tax assessments.

The two payments were included in Flutter's preliminary results for 2019. According to the results, the German tax issue relates to the Betfair Exchange, which operated in that market until 2012, while the Greek tax issue relates to paddypower.com's business in the country.

According to a note in the results, Flutter was provided with a decision by the Hessen Fiscal Court in Germany, which found against the group's appeal against a tax assessment in 2012. The court deemed that a tax liability of around €40m was payable, including accrued interest.