Goodmanistan

at

00077189

Larry Goodman

Sir, – I refer to the article by Colm Keena headed “Goodman company owner paid little tax on €52m profit” in The Irish Times of April 24th.

 

The article was misleading and damaging to the group as it did not give a fair reflection of the taxes paid. The group, which is headquartered in Ireland and has successful operating plants in Ireland, UK, Poland, Holland, Denmark, Austria and Spain, pays substantial millions in corporation taxes on the profits earned and is tax compliant in all jurisdictions in which it operates.

 

The article, which concerned part of the financing structure of the overall group, implied a tax rate for the entire group by reference to the rate of tax paid by selective holding/financing companies within the overall structure. For the accounting year ended March 31st, 2014, the effective rate of corporation tax for the entire group was in excess of the Irish corporate tax rate. 

 

Yours, etc,

LJ GOODMAN,

Executive Chairman,

ABP Food Group,

Ardee,

Co Louth.

Meanwhile….

“The Revenue Commissioners are reviewing the international corporate structures used by Larry Goodman’s ABP Food Group and other businesses, in the light of details made public last month.”

“The move comes in the wake of reports in this newspaper about a group of companies based in Luxembourg, the accounts of which show massive inter-group loans and dividend payments that are only lightly taxed. A company called Parlesse Investments Sarl has booked profits of approximately €280 million between 2010 and March 2013, and paid tax of approximately €800,000…Mr Goodman is a former director of the company.”

Hmm.

Context: Goodman company owner paid little tax on €52m profit (Colm Keena, Irish Times, April 24, 2015) 

Revenue to review Goodman group structure (Colm Keena, Irish Times, May 8, 2015)

Related: Goodman empire is built on good tax planning, privacy and international trade (Colm Keena, Irish Times, May 8, 2015)

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8 thoughts on “Goodmanistan

  1. phil

    There are a lot of things Id like to say here, but I like broadsheet too much to get them in trouble …

  2. Clampers Outside!

    Tax compliant = We hire very well paid tax lawyers to find ways to shift money around to avoid paying tax by finding loopholes in the system.

    All above board like.

  3. Kieran NYC

    Are we allowed call THIS guy a crook?

    Are we ever actually legally allowed call crooks, crooks?

    :(

    1. More_Bermuda_Than_Berlin

      White collar – no (they’ve enough money to call in the lawyers)

      Blue collar – yes (scum, vile, terrorists, etc. – see Sunday World for more)

  4. Tá Frilly Keane

    Is that why they’re called the one percent
    Cause
    Like
    That’s all they stump up

    One percent
    Or
    What they might call
    One present
    Better say thank you

    Like just in case
    They’re right.

  5. Niallo

    I’ll say this much for the man, he is resident here, so pays his taxes here.
    Unlike some i’m sure need no introduction here.

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