UK’s Rank Group to get $104 million refund on VAT paid on slot machine income

(Reuters) – Casino and gaming operator Rank Group will get a refund of 77.5 million pounds ($104.04 million) after reaching an agreement with Britain’s tax authority over value added taxes paid on slot machine income in 2006-2013, the company said on Monday.

Her Majesty’s Revenue and Customs (HMRC) earlier this year decided not to appeal a decision handed down by the First-tier Tribunal regarding VAT paid on slot machine income in the period from April 2006 to January 2013.

($1 = 0.7449 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shailesh Kuber)