Commodity Trader Mercuria Paid 0.08% Tax on $1.3 Billion Profit

Mercuria Energy Group Ltd. paid almost no tax on profits of more than $1 billion in the 12 months through September, according to a copy of its accounts seen by Bloomberg News.

The commodity trader’s profits for the period were down 37% from the previous year, but were flattered by an extremely low tax bill. The company reported taxation of just $1 million on its profits of $1.31 billion — an effective tax rate of 0.08%.

Privately-held Mercuria doesn’t report its results publicly, but recently communicated its accounts for the year ending September to lenders, according to four people familiar ...