Richard Murphy, of Tax Research UK, said: ‘It looks as if Kellogg’s is trading in similar fashion to many of the better known tax avoiders.’
Ritchie, as ever, failing to note that no one does avoid tax in this manner. They might delay payment of it, but they can’t avoid it. As soon as those profits are repatriated to the US in order to be distributed to shareholders (and they must be repatriated in order to be disbursed) then they will pay the corporate income tax in that country.
Which is just how corporation tax works.