The Victoria Gambling and Casino Control Commission (VGCCC) has announced that Crown Resorts has been fined AU$20 million (€12.5 million) for tax breaches.
Unpaid taxes came to AU$37.4 million (€23.44 million)
According to the Royal Commission, Crown improperly claimed tax deductions by including the costs of promotions as amounts paid out as winnings. The Royal Commission also discovered that Crown deliberately hid these deductions from the VGCCC’s predecessor, the Victorian Commission for Gambling and Liquor Regulation.
VGCCC Fines Crown AU$20 Million for Dodging TaxesThe commission informed the company of its discovery and Crown has since made a payment of about AU$61.5 million (€38.5 million) to cover the unpaid taxes and penalty interest. However, despite Crown’s prompt payment of the unpaid taxes, the VGCCC has imposed a fine of AU$20 million (€12.5 million).
VGCCC Fines Crown AU$20 Million for Dodging Taxes“Crown and other gaming licensees have important obligations to pay gaming taxes to the State. Not only did Crown breach its obligations by claiming tax deductions to which it was not entitled, Crown also made significant efforts at concealment.
VGCCC Fines Crown AU$20 Million for Dodging Taxes
This is the fourth time the VGCCC has taken disciplinary action against Crown for conduct uncovered by the Royal Commission.
The news of the latest fine comes just weeks after The Australian Transaction Reports and Analysis Centre (AUSTRAC) proposed and agreed a financial penalty of AU$450 million (€274.95 million) with Crown Melbourne and Crown Perth for breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
