Sweden’s Tax Agency has determined that online casino games developer Net Entertainment is liable to additional taxes amounting to SEK92.1m (€10.7m) following an audit into the Swedish parent company’s dealings with its Maltese subsidiary, a determination that Net Entertainment describes as “unfounded”.

The company said Thursday that the Tax Agency has given certain agreements between companies within the Net Entertainment Group “a different legal interpretation and economic substance”, contrary to the interpretation of Net Entertainment, it’s advisors PwC and law firm Lindahl.

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