Kellogg's Pays No Corporation Tax In Ireland
Kellogg's last year paid zero corporation tax for the second year running as revenues topped €1.28bn, reports Independent.ie.
According to the report new accounts filed by the main Irish division of the cereal producer Kellogg European Trading (KET) Ltd with the Companies Office show that it recorded a 27pc jump in operating profits, from €38.7m to €49.36m, in the 12 months to the end of January 2 last.
However, interest charges payable of €137.45m on loans from other group firms pushed the firm into the red to record losses of €75.5m. The firm reduced its losses in 2015 to €65.6m with a deferred tax asset of €9.8m.
Kellogg's has been based in Ireland since 2005. It's popular brands include Corn Flakes, Coco Pops, Nutri-Grain and Rice Krispies. The company currently employs 250 people.
© 2016 - Checkout Magazine by Donna Ahern