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Aughinish Alumina pays €1,952 corporation tax on sales of more than €191 million
Edited by : AL CIRCLE
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Billionaire Russian oligarch Oleg Deripaska’s firm Aughinish Alumina paid just €1,952 in corporation tax over the past five years, despite generating sales of more than €191 million, reports the Sunday Independent.
Deripaska, whose wealth is valued at $8.8 billion (€6.6 billion) by Forbes magazine, owns the Limerick plant through Rusal, the world’s largest aluminium producer.
Between 2007 and the end of 2011, Deripaska’s Irish company made pre-tax profits of €20.25 million. A parent company, Limerick Alumina Refining, paid less than €350,000 in corporation tax since 2008. It made losses in 2008 and 2009 and has been profitable since then, but tax exposure was reduced through timing differences and losses claimed as group relief.
Deripaska, whose wealth is valued at $8.8 billion (€6.6 billion) by Forbes magazine, owns the Limerick plant through Rusal, the world’s largest aluminium producer.
Between 2007 and the end of 2011, Deripaska’s Irish company made pre-tax profits of €20.25 million. A parent company, Limerick Alumina Refining, paid less than €350,000 in corporation tax since 2008. It made losses in 2008 and 2009 and has been profitable since then, but tax exposure was reduced through timing differences and losses claimed as group relief.
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