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Online gambling company Centrebet International believes that a court case through which it is seeking a refund of $90.7 million in GST payments from the tax office is likely to be decided in its favour.
Centrebet said on Thursday that the outcome of a recent Federal Court case between the tax office online and gambling firm Sportsbet - decided in favour of Sportsbet - gave it "reasonable basis to hold the view that the Federal Court at first instance is likely to determine the Centrebet proceedings in favour of Centrebet.
"Centrebet Pty Ltd was advised yesterday afternoon by the Commissioner of Taxation that the Commissioner has decided not to appeal against the Sportsbet Judgement," Centrebet said in a statement.
"Further, the commissioner's solicitors have informed Centrebet Pty Ltd that they are instructed that he will not re-argue the issues in the Centrebet proceedings."
Centrebet shares were 16 cents higher, by 7.62 per cent, higher at $2.26 at 1250 AEST.
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