Infant formula giants Danone and Wyeth Infant Nutritionals are using loopholes in the Irish corporate law system to hide the profitability of their Irish operations, Irish Farmers Journal analysis reveals.
Since 2013, Wyeth Ireland has paid out €1.2bn in dividends to its parent company Nestlé. However, the company has now made moves to conceal the profitability of its Irish business. In 2017, Wyeth recorded sales of €574m.
Similarly, Danone has been using an exemption under Irish corporate law since 2016 to hide the finances of its Irish-based Nutricia Infant Nutrition. In 2015, it had sales of €620m. The steps these companies are taking are allowed under Irish corporate law.
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Infant formula giants Danone and Wyeth Infant Nutritionals are using loopholes in the Irish corporate law system to hide the profitability of their Irish operations, Irish Farmers Journal analysis reveals.
Since 2013, Wyeth Ireland has paid out €1.2bn in dividends to its parent company Nestlé. However, the company has now made moves to conceal the profitability of its Irish business. In 2017, Wyeth recorded sales of €574m.
Similarly, Danone has been using an exemption under Irish corporate law since 2016 to hide the finances of its Irish-based Nutricia Infant Nutrition. In 2015, it had sales of €620m. The steps these companies are taking are allowed under Irish corporate law.
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