Absolute Poker Receives another Blow

Norwegian tax authorities claim millions in unpaid VAT

There seems to be no end to Absolute Poker’s problems – this week, a report came that Norwegian tax authorities (Skatteetaten) claimed 180 million Kroner (around $30 million) in unpaid value added tax from Madeira Fjord, a shell company set up in Norway in 2007 to channel dividends to Absolute shareholders.

Apparently, according to the Norwegian authorities, Absolute Poker ran 430 million Kroner of undeclared business through the now-bankrupt Madeira Fjord, and they claim that the shell company is a Norwegian subsidiary of Absolute Poker.

In the media’s opinion, "While this could impact Americans seeking refunds of balances on Absolute, it’s more likely that this is symbolic. Madeira Fjord and Absolute are bankrupt, and given the ongoing negotiations with the US Department of Justice its likely (but not certain) that player balances will receive a higher priority than Skatteetaten VAT claim."

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