Playtech has said 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.
According to a notice filed this week, Playtech’s board now believes that there would be an overall benefit to migrating the company’s tax residency to the UK with effect from early 2021 to "better align it with its expected future operational substance."
Source: GMB
