Frasers Group, the renamed Sports Direct business controlled by Mike Ashley, has correctly paid tax in Belgium that had been questioned by the authorities there.
Frasers Group said the Belgian Tax Authority has confirmed in writing that it was satisfied with the retailer’s explanation regarding €491m – or 73% – of the total €674m in question and that VAT has been correctly accounted for.
As far as that sum is concerned, the issue “has been resolved with no payment of VAT liabilities or associated penalties and interest to be made by the company or any member of its group”.
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