Aspire Global has Reached an Agreement with the Israeli Tax Authority
Aspire Global Group announces that a settlement has been reached with the Israeli tax authority (“ITA”) in the previously disclosed tax audit related to management and control jurisdiction, permanent establishment and transfer pricing among the group entities. Aspire Global has agreed to pay €13.7 million in retroactive tax relating to the 11 fiscal years 2008-2018. The resolution brings an end to all related investigations into the company.
The audit has been mentioned in the Financial Notes and Risk Management sections of the 2018 Annual Report, interim reports and the prospectuses related to the IPO and bond issue.
Today, December 31st 2019, an agreement has been reached with the Israeli tax authorities according to which:
- Aspire Global will pay an additional tax of approximately €13.7 million related to the 11 fiscal years 2008-2018 (inclusive);
- no penalties are to be imposed as a result of the audit; and
- the agreement covers the entirety of the Group's activity in Israel.
This additional tax charge will be reflected as an exceptional item in the Group’s accounts for 2019 and the payment is expected to be made in the next couple of days.
The settlement with the ITA was actively chosen over a lengthy period of uncertainty. The Group's financials remain strong despite the agreement and per September 30th, cash amounted to €43.1 million.
For more information, please contact:
Tsachi Maimon, CEO, Tel: +356-7977 7898 or email: tsachi@aspireglobal.com
Motti Gil, CFO, Tel: +356- 9924 0646 or email: mottigi@aspireglobal.com
About this information
This is information that Aspire Global is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication by the contact person above at 3:45 pm (CET) on December 31st 2019.
This document is the English original. In the event of any discrepancy between the original English document and the Swedish translation, the English original shall prevail.
About Aspire Global
Founded in 2005, Aspire Global offers a comprehensive iGaming solution for operators and white labels, including a complete suite of services for casino and sportsbook, multilingual CRM, payments and risk control, support call center, VIP management, acquisition optimization and a robust, market-leading platform. Aspire Global operates in several regulated markets including Denmark, Ireland, Malta, Portugal, Sweden and the UK. Aspire Global is listed on Nasdaq First North Premier Growth Market under ASPIRE. Certified Advisor: FNCA Sweden AB, info@fnca.se, +46-8-528 00 399. Please visit www.aspireglobal.com/investor