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Dassault says set up Isle of Man entities but has respected tax duties

Reuters - UK Focus

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PARIS, Nov 7 (Reuters) - French aerospace group Dassault Aviation, mentioned in the latest round of leaks concerning alleged tax evasion schemes dubbed the "Paradise Papers", said it had set up entities on the Isle of Man (Swiss: MAN.SW - news) but added it respected its tax obligations.

Dassault Aviation (LSE: 0IAX.L - news) issued a statement on Tuesday in response to the "Paradise Papers" - leaked documents from prominent offshore law firm Appleby that relate to the investments of wealthy individuals and institutions ranging from U.S. Commerce Secretary Wilbur Ross, to Britain's Queen Elizabeth.

"Dassault Aviation respects all its fiscal obligations and in this regard pays its taxes in the countries where it operates its industrial activities, which for the most part is in France as well as the United States via its American subsidiary," it said in a statement.

Dassault Aviation said it had set up seven financial leasing entities on the Isle of Man between 2008-2012, adding it had done so "in order to meet the financing needs of clients during the context of the financial crisis." (Reporting by Sudip Kar-Gupta; Editing by Michel Rose)