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Rank shares soar after ECJ backs VAT bingo claim

11th November 2011 6:39 am GMT

Shares in Rank Group plc soared more than 9 per cent in London yesterday after the European Court of Justice ruled that the UK’s VAT law was in breach of the EU law principle of fiscal neutrality, confirming the company’s recent claims for overpaid VAT amounting to £253.4m including interest.

Rank is the representative member of a VAT group which operates bingo clubs and casinos in the UK in which customers have access to mechanised cash [...]

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