TAXES PAYABLE

6 Months Ended

Jun. 30, 2024

TAXES PAYABLE

TAXES PAYABLE

NOTE 14 – TAXES PAYABLE

The taxes payable includes tax amounts due for stamps, duties, corporate income tax and deferred tax liabilities as noted below:

As of June 30, 2024, and December 31, 2023, taxes payable are $3,197,227 and $6,137,513, respectively. The components of taxes payable are as follows:

	As of June 30, 2024		As of December 31, 2023
Value Added Tax – Montenegro Tax Administration	$	-	$	2,534,178
Stamps, duties and other taxes		2,236,574		2,131,635
Corporate income tax payable		742,470		1,262,921
Deferred tax liabilities		218,183		208,779
Total taxes payable	$	3,197,227	$	6,137,513

Montenegro VAT Payable

On February 6, 2024, the Company was notified by the Montenegro Tax Administration, Sector for Large Taxpayers, that Meridianbet Montenegro DOO (Montenegro) was assessed Value Added Tax (VAT) of $2,534,178 (EUR 2,293,892) on services invoiced from an unrelated third-party Serbian software developer for software services.  The Company has accrued assessed VAT Taxes payable and as of June 30, 2024, total amount of liability was paid out and as of December 31, 2023, VAT Taxes payable amounted to $2,534,178 (EUR 2,293,892).