Kellogg’s Paid €7m Corporation Tax On €7.1bn Worth Of Sales
Published on Apr 7 2015 9:23 AM in Uncategorised
Kellogg's has paid corporation tax of just €7 million on over €7.1 billion in sales from Europe, as well as Africa and the Middle East, through its Dublin-registered Kellogg Europe Trading (KET) over the last five years, according to research carried out by The Irish Times.
The paper found that KET is often loss-making because of large interest it pays on loans received from another Kellogg's company registered in Luxembourg.
The Irish Times' Mark Paul reported that KET's 2013 accounts show it accrued a deferred tax asset in Ireland of €29.5 million because of its losses, meaning it can write this figure off against future corporation tax bills.
In a statement, Kellogg's said, "We are a responsible taxpayer and always work closely with the tax authorities, and within the tax laws, of the countries in which we make and sell our foods."
Its Irish subsidary, Kellogg Company of Ireland, recorded sales of €63 million in 2013.
© 2015 - Checkout Magazine by Jenny Whelan.