Supplier News
Isle of Man – Playtech proposes potential tax migration to UK
By Lewis - 1 December 2020
Playtech is proposing to migrate its tax residency to the United Kingdom in early 2021. A general meeting of the company will be held in the Isle of Man on 18 December considering proposed amendments to facilitate the migration.
Playtech has stated that it was incorporated and tax registered in the Isle of Man because at that time it was considered to be the most suitable tax regime for the purposes of the business’s operations.
The board now believes that to better align Playtech with its expected future operational substance, there would be an overall benefit to migrating the company’s tax residency to the UK with effect from early 2021.
This would allow board meetings and board decisions to take place in the UK and, in addition, would be able to hold shareholder meetings in the UK as a matter of course to encourage greater shareholder participation.
