Business News

London-listed gaming supplier Playtech will record an exceptional €28m tax charge in its 2018 financial results after agreeing transfer pricing adjustments with Israeli tax authorities.

The additional tax liability was agreed with Israeli authorities on December 31st following a civil tax audit of certain Playtech group functions in the country between 2008 and 2017.

The transfer pricing adjustments will see Playtech pay additional tax of €28m within the next 30 days, with the charge reflected as an exceptional item in Playtech’s 2018 accounts.

No penalties have been imposed as a result of the audit, which covered the entirety of Playtech’s activities in Israel.

Shares in Playtech plc (LSE:PTEC) were trading up 0.59 per cent at 387.26 pence per share in London Wednesday morning.