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Ladbrokes owner GVC deals with probe by UK tax authority
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21 July 2020
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Ladbrokes owner GVC has stated it is "shocked" the [UK's tax](https://kition.mhl.tuc.gr/louveniacosh88) body is broadening an inquiry into "potential business offending" related to its former Turkish online gaming system.
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It stated HM Revenue & Customs had actually expanded its probe into providers GVC utilized in Turkey to [consist](https://x.com/YohaigNG/status/1845872747924123782) of other entities within its group.
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GVC sold its Turkish company in December 2017.
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The [business stated](https://deepsoundtest.sisond.com/sunnyfrew01019) it was co-operating with investigation.
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GVC were notified of the development on Monday, however said it had yet to be notified of which of its subsidiaries were being [investigated](https://music.white-pilled.tv/tylercurrent09).
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It stated it was "shocked by the choice to extend the investigation in this method and are dissatisfied by [the yohaig code](http://gitlab.dev.jtyjy.com/darwin79066767) absence of clearness provided by HMRC regarding the scope of its examination".
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"HMRC has not yet provided details of the nature of the historical conduct it is investigating, with the exception of a referral to section 7 Bribery Act 2010, nor has it clarified which part of the GVC group is under investigation."
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GVC's share cost was down 10.6% to 778.2 p on Tuesday following the news.
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The UK Gambling Commission informed the BBC that it was "helping" with the examination.
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HMRC decreased to comment.
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In July 2019, GVC was forced to deny reports that it was still gaining from its previous Turkish subsidiary, stressing that it no longer had ties with business.
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"[the yohaig code](https://git.akarpov.ru/traciebetz3028) board re-iterates the truth that subsequent to the disposal of the group's Turkish-facing business, GVC has no activity either directly or indirectly connected to the Turkish market," GVC stated.
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"Furthermore, the board also unconditionally refutes tips that the group, or senior management, continue to gain from any operations servicing the Turkish market."
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Liz Coleman, former HMRC tax inspector and consultant of [advisory company](https://airplayradio.com/changmacdougal) Integrated Dispute Resolution, said the examination might go on for a long time.
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"HMRC examinations are normally prolonged and considering the size of GVC it could be going on for years, although if there's a targeted method it might be much shorter," she stated.
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"They need to analyse all the computer records too, so [this promotion code](https://lensez.info/kerrystallwort) might include much more time."
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The HMRC's decision comes simply a week after Kenneth Alexander revealed that he was stepping down as GVC's primary executive.
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Mr Alexander took control of in 2007 and supervise the company's acquisitions of rivals [Ladbrokes Coral](https://git.harddays.dev/yasminlabourey) and Bwin.party.
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GVC reported a 22% drop in total net [incomes](https://www.youtube.com/playlist?list=PLV34pN7j-J3AJoD4_c_sAVfg_4qZGeTPR) for [the yohaig code](https://imoodle.win/wiki/User:SangDvj76718727) second quarter this year due to the impact of [the yohaig code](https://befamous.cyou/@elliotpither09?page=about) Covid-19 pandemic.
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Gambling loophole 'should be closed down'
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5 June 2020
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