Sunday November 29, 2020

Coca-Cola Irish arm transfers €5 billion to Cayman parent

Soft drinks giant, which employs nearly 800 people in Ireland, paid €225 million tax here

Barry J Whyte

Chief Feature Writer

@whytebarry
16th February, 2020
In 2018, the company had a profit for the year of €1 billion, down from €1.4 billion the year before. That was based on turnover of €4.6 billion, up from €4.2 billion the year before

An Irish subsidiary of Coca-Cola has paid nearly €1.7 billion in share capital and €3.4 billion in dividends to its Cayman Island parent company over the last four years, documents show.

Between 2016 and 2020, European Refreshments Limited made dozens of payments from its share capital – denominated in dollars, euro and yen and amounting to around €1.7 billion – to its parent company Atlantic Industries.

European Refreshments also paid more than €3.4 billion in dividends in...

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