ROME: A PokerStars subsidiary in Italy is under investigation for alleged tax fraud in relation to the operation of Pokerstars’ Italian online poker room.
Halfords Media Italy is the subject of the investigation. Italy’s Guardia di Finanza (Financial Police) alleges that the PokerStars subsidiary has underreported profits by €300 million between 2009 and 2014.
The GDF announced its investigation on its website, calling the operation “All-In.” The operation is attempting to “bring back to Italy the real market value of the transactions between the company of an international group recovering the higher undeclared income to Italian tax authorities.” In a nutshell, the GDF believes that PokerStars is declaring some profits that should be reported in Italy in more tax-friendly jurisdictions, such as the Isle of Man and Malta.
