Kellogg's says tax clampdown will harm profits
by Jennifer Rankin from Economics | The Guardian on (#6FAM)
Warning from Corn Flakes maker comes amid international pressure to close tax loopholes
Kellogg's has warned that its profits could be hurt by the international drive against tax avoidance, which is targeting structures that benefit multinationals.
The US-based maker of Corn Flakes, Rice Krispies and Coco Pops is worried that attempts to close tax loopholes would lead to a "material" increase in its income tax bill.
