Firm paid no tax on €57m revenues
The Irish subsidiary of multinational Creative Labs posted revenues of $77.4 million (€57.4 million) in its most recent financial year, but paid no tax in Ireland.
The Irish subsidiary of Creative Labs, the multinational computer equipment manufacturer, posted revenues of $77.4 million (€57.4 million) in its most recent financial year, but paid no tax in Ireland because of a low profit margin and tax write-offs.
Creative Labs (Ireland) reported that its revenues had declined by 15 per cent in the year ending June 30 2011, from $91.5 million to $77.4 million. Revenues from sales across Europe were channelled through the Irish operation.
Despite the revenue dip, the...
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