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Kellogg's Pays No Corporation Tax In Ireland

Published on Oct 19 2016 12:51 PM in A-Brands tagged: Kellogg's

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

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

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