Arab Today, arab today underfire starbucks to pay uk corporation tax
Last Updated : GMT 04:30:09
Arab Today, arab today
Arab Today, arab today

Under-fire Starbucks to pay UK corporation tax

Arab Today, arab today

Arab Today, arab today Under-fire Starbucks to pay UK corporation tax

London - AFP

US-based coffee giant Starbucks said Thursday that it will pay around £10 million in corporation tax in Britain in each of the next two years after lawmakers roasted the company for avoiding taxes. Kris Engskov, the managing director of Starbucks UK, made the announcement in a speech in London amid rising public anger in austerity-hit Britain at multinationals that fail to pay enough tax. \"Today, I am announcing changes which will result in Starbucks paying higher corporation tax in the UK -- above what is currently required by law,\" Engskov said in the speech to the London Chamber of Commerce. He said that in 2013 and 2014 Starbucks would not claim tax deductions for \"royalties or payments related to our intercompany charges\". \"In addition, we are making a commitment that we will propose to pay a significant amount of corporation tax during 2013 and 2014 regardless of whether our company is profitable during these years,\" Engskov said. \"We are still working through some of the calculations, but we believe we could pay or prepay somewhere in the range of £10 million ($16.1 million, 12.2 million euros) in each of the next two years in addition to the variety of taxes we already pay.\"Starbucks had previously confirmed that it did not pay any corporation taxes in Britain for the past three years on sales worth £400 million. It was able to do so by paying fees to other areas of its business -- such as \"royalty payments\" for the use of the brand -- which resulted in the company posting a series of losses and not having to pay any corporation tax. British finance minister George Osborne on Monday announced a campaign against \"tax dodgers\" and \"cowboy advisers\" worth £2 billion. Also on Monday a parliamentary committee alleged that multinationals such as Starbucks, US online retailer Amazon and Internet search giant Google were involved in the \"immoral\" avoidance of tax. Margaret Hodge, who chairs the committee, said: \"Global companies with huge operations in the UK generating significant amounts of income are getting away with paying little or no corporation tax here. \"This is outrageous and an insult to British businesses and individuals who pay their fair share.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today underfire starbucks to pay uk corporation tax Arab Today, arab today underfire starbucks to pay uk corporation tax

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today underfire starbucks to pay uk corporation tax Arab Today, arab today underfire starbucks to pay uk corporation tax

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 3,250 people killed in Raqqa battle

GMT 03:49 2017 Wednesday ,18 October

3,250 people killed in Raqqa battle
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday