Mondelez International Company evading taxes in the UK amounting to £ 2 billion.

Mondelez International Company evading taxes in the UK amounting to £ 2 billion.

07.12.2015 News

Mondelez International Company evading taxes in the UK amounting to £ 2 billion.Sunday Times newspaper has investigated and reported as Mondelez International (formerly known as Kraft Foods)-the biggest in North America and the second largest worldwide producer of food avoid paying taxes.

According to the Sunday Times, the Cadbury owner – Mondelez International Company (formerly known as Kraft Foods), legally evaded taxes in the amount of tens of millions pounds into the coffers of the state, since its acquisition of the confectionery giant Cadbury five years ago (the amount of the transaction on purchase Cadbury was £ 11,5 Bln.) Mondelez Company did not pay income tax to the treasury of the United Kingdom in 2014.

According to the Sunday Times, the company legally avoids paying taxes by offsetting interest payments on unsecured loans in the sum of £ 8.2 billion in damages. Interest paid on the loan may be compensated for loss of earnings at other companies.

Such legal agreement meant that Mondelez did not pay UK corporation tax, despite the fact that the profits of its subsidiary Cadbury was £ 96.5 million in 2014 and £ 83.6 million in 2013.

Margaret Hodge, the chairman of the Chamber of the group responsible for the taxes, told that companies deliberately export their profits “artificially” to avoid taxes, and stated that such rules established by leaders in multinationals will not lead to anything good for them.

In its defense, the representatives of Mondelez expressed that comply with all the requirements of the legislation, and added that the company made a significant contribution to the UK economy in the sum of £ 1.86 billion in the period of 2013 – 2014.

Source: www.theguardian.com

Other articles

  • What help Ukrainian entrepreneurs need to export more
    Analytics

    What help Ukrainian entrepreneurs need to export more

    Exports of goods accounts for a third of Ukraine’s GDP.But we sell primarily raw materials abroad. It is a marker of underdeveloped countries and a path that does not contribute to economic development. Our state’s strategic task is to increase the exports of high-tech goods with high added value: that is, not just to grow […]

  • The Ministry of Finance named the main risks of the economy in 2022
    News

    The Ministry of Finance named the main risks of the economy in 2022

    Next year, Ukraine may face a number of macroeconomic risks that will greatly affect economic growth. The Ministry of Finance listed these risks. In particular, Ukraine may lose 0.6-0.8 percentage points of GDP growth due to too low grain yields, due to which the budget will not receive UAH 8.5 billion. At the same time, […]

  • Ryanair plans to become the main investor in Ukraine
    News

    Ryanair plans to become the main investor in Ukraine

    The low-cost airline Ryanair plans to expand in Ukraine if the open skies agreement with the EU is approved in the coming months. CEO Michael O’Leary stated this. O’Leary predicts the signing of an agreement between Ukraine and the EU by the end of 2021. “One of the markets I would single out is Ukraine. […]

  • Almost 740 enterprises have been put up for sale in Ukraine
    News

    Almost 740 enterprises have been put up for sale in Ukraine

    Ukraine plans to privatize 737 state-owned enterprises during 2021-2023. The Ministry of Economy published the list of objects for sale. Although some companies will be able to sell only after the amendments to the legislation. In particular, such large enterprises as Centerenergo, the United Mining and Chemical Company, Turboatom, the Zaporizhia Titanium and Magnesium Plant, […]

  • Apple was deprived of a monopoly on payments for applications
    News

    Apple was deprived of a monopoly on payments for applications

    Apple Inc, according to a lawsuit filed by Epic Games Inc., must allow mobile app developers to redirect users to alternative resources to pay for services in the App Store. The Wall Street Journal reported this. A 30% commission is now charged on each purchase. Judge Yvonne Gonzalez Rogers concluded that Apple’s practice was uncompetitive […]

  • The World Bank named the conditions for the tranche to Ukraine
    News

    The World Bank named the conditions for the tranche to Ukraine

    The World Bank will provide Ukraine with a second tranche of $ 350 million, but subject to certain conditions. WB Vice President for Europe and Central Asia Anna Bjerde told Interfax-Ukraine what exactly is expected from Kyiv. “The prospects for the second tranche of the Economic Recovery Development Policy Loan depend on maintaining an adequate […]

  • Swedish Tech Company Beetroot Expands With New Location in Mariupol
    News

    Swedish Tech Company Beetroot Expands With New Location in Mariupol

    September 13, 2021 — Stockholm, Sweden — Beetroot AB, the tech division of the Beetroot ecosystem, opens a new location in Mariupol, Ukraine. The company is currently accepting applications for over fifty software development vacancies in its international client projects.   In Mariupol, Beetroot will focus on building teams of tech specialists to work on a […]

  • Google has appealed France’s fine of half a billion
    News

    Google has appealed France’s fine of half a billion

    The American multinational corporation Google, fined in France for copyright infringement, has announced its intention to appeal the decision of the French regulatory authorities. This was announced on Wednesday, September 1, the chairman of the board of Google France Sebastien Missoff. “We do not agree with some legal nuances and consider the amount of the […]

Read also

Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

Coca-Cola’s net profit for 9 months decreased by 9%

The net profit of the world’s largest producer of soft drinks Coca-Cola, which falls on the company’s shareholders, in the first nine months of the year decreased by 9% year on year and amounted to 6.291 billion dollars, according to company reports. Adjusted earnings per share were $ 1.46 against $ 1.6 a year earlier. […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

Oil is rising due to a hacker attack in the United States

World oil prices of reference brands began the working week with a moderate increase amid disruptions in the US Colonial Pipeline after a hacker attack. This is evidenced by trading data on Monday, May 10. Thus, July futures for Brent on the London Stock Exchange ICE Futures rose by $ 0.57 (0.83%) – to $ […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

Robot has learned how to cook 19 dishes and will replace some of the staff in the kitchen

The robotics company Miso Robotics has launched the robot Flippy, which is able to replace part of the staff in the kitchen of the restaurant. “Flippy goes on sale in the midst of the pandemic and supports the cooking of 19 different dishes, including fries and burgers made of the artificial meat of the Impossible […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

In France, Google was fined € 500 million

In France, the antitrust regulator has fined Google € 500 million, according to the regulator’s press service. “The regulator has fined the company for non-compliance with several court rulings issued in April 2020,” the statement said. Agence France-Presse writes that the fine was imposed for “the corporation did not properly negotiate with the publishers of […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
Analytics

China Is the biggest Investor

The history of China’s statehood formation and development achieves several millennia, its nation has made a significant contribution into both material and spiritual culture of humanity throughout the world. Having in possession huge territories, essential labor and material resources and potentially large internal commerce, The Heavenly Empire has nearly all suppositions for creating integral, well-rounded […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

Alibaba Group will own MoneyGram

Ant Financial company within the framework of a public company Alibaba (China), announced about the final stage of the USA financial company asset acquisition procedures MoneyGram International, specializing in international trade transactions online, as reported Inventure. The Chinese side intends to complete the transaction in the third or fourth quarters of 2017, after the approval […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

Economic Court of Odessa region has entered rehabilitation procedure “Odessa Oil and Fat plant”

Economic Court of Odessa region has introduced the procedure of readjustment PJSC “Odessa Oil and Fat Plant”, 29 July 2016. This is stated in the relevant court judgment in the case №916/4932/15. The case of bankruptcy of PJSC “Odessa Oil and Fat Plant” Court of Odessa region was initiated December 28, 2015. Manager of readjustment has […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

The arrest of the former head of CityCommerce Bank property : have bank funds been assigned there?

Pechersk District Court of Kyiv satisfied the petition of the Main Investigation Department investigators of Natspolitsiia and arrested the property of the former ruler of PJSC City Commercial Bank (CityCommerce Bank). Such a decision the court took on January 12 this year. According to the document, the former ruler of the bank is suspected of […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

Georgian investor bought a part of the Ukrainian pharmaceutical company

The Georgian Industrial Group purchased 25% of the Ukrainian pharmaceutical company, which is 70% owned by the state. Buyer of the is Luraq Investments Limited (Limassol, Cyprus), which is part of the Georgian Industrial Group (Georgian Industrial Group, GIG) bought the last 25% of the insulin producer “Indar”, PJSC (Kyiv). This information was published by […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

For the first time in a year, business has improved its assessment of economic growth – the NBU

Business assessments of economic growth in Ukraine have improved for the first time since the first quarter of 2020 – the index of business expectations of enterprises returned to a positive value of 108.4%. This is evidenced by the results of a survey of company executives conducted by the National Bank of Ukraine in the […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

BMW will pay $ 18 million fine for distorting sales figures

BMW has agreed to pay 18 million dollars fine for distortion of sales data for five years. About it with reference to the Commission on securities and stock exchanges of the USA. According to the commission, from 2015 to 2019, BMW maintained a reserve of unaccounted for car retail sales, which it used to achieve […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

The losses of Ukrainian farmers due to the drought were estimated at 118 billion

Ukrainian farmers may lose up to 118 billion hryvnias this year due to drought and frost. This was reported by the press service of the Agrarian Union of Ukraine. “This year, even the critically affected regions (Odessa, Mykolaiv, Kherson, Zaporizhia regions), despite the promises of the state, did not receive a single penny of assistance,” […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

SFS fined Philip Morris for 4.1 billion UAH

The State Fiscal Service of Ukraine imposed a fine on Philip Morris Ukraine. In turn, the tobacco company believes that the claims of the Department of tax and customs audit of the SFS for 4.1 billion. UAH are unfounded. “Now the fine is not yet accrued officially. The verification was completed on May 10 and […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

The Cabinet of Ministers has resolved the issue of Naftogaz’s supervisory board

At a Cabinet meeting on Wednesday, May 19, the contract with five members of Naftogaz’s supervisory board was extended. Prime Minister Denis Shmygal announced this in the Telegram. He clarified that the agreements were extended for up to a year. “We are also grateful to Clare Spottiswood, Chairman of the Supervisory Board of Naftogaz, who […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

Ukrhazvydobuvannia Tender won the company with hazy biography

It became aware the results of the tender of Ukrhazvydobuvannia by 13.3 billion UAH on the organization of drilling gas wells. The winner was a little-known company Pivnichhazresurs,the charter capital of which is only 74 thousand UAH, and the staff consists of two people. Also, it should be noted that on account of the above-mentioned […]

Next
Mondelez International Company evading taxes in the UK amounting to £ 2 billion.
News

Siemens buys Mentor Graphics in the closest time

The German Siemens AG corporation reported about the acquisition of the American producer Mentor Graphics. The transaction is estimated at $4,5 billion: the price of one share constitutes $37,25. Mentor Graphics main activities are: designing of cable systems, printed circuit boards, functional verification, development of the built-in software etc. The company merger is directed, first […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com