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myLotto24 agrees €54m tax payment to limit risk of fines

23rd December 2019 6:38 am GMT

ZEAL Network’s myLotto24 subsidiary has entered into an agreement with the Hanover-Nord tax authority (Finanzamt) to pay €54m in assessed value-added-tax (VAT) in respect of its now discontinued secondary lottery business.

The company said that the agreement eliminates the risk of potential fines for late payment of taxes and significantly reduces the amount of potential interest payments until the completion of VAT proceedings.

Without acknowledging any legal obligation, myLotto24 will pay a partial amount of €54m in January from [...]

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