• Restoring sanity to SA

    We should be driven by the thought that SA belongs to all who live in it, says Solly Moeng.

  • Clamouring for action

    2017 will see battles between politicians as well as those tired of politicking, says Daniel Silke.

  • Realistic dreaming

    Preparation and sound advice will turn entrepreneurial dreams into reality, says Ian Mann.

All data is delayed
Loading...
See More

Starbucks promises to pay more UK tax

Dec 06 2012 16:58
AP
London - Starbucks says it will pay about £10m ($16m) in British tax in each of the next two years, after being accused by the country's lawmakers of "immorally" avoiding tax.

UK managing director, Kris Engskov, said on Thursday that the firm had agreed to pay more than required by law, because "our customers clearly expect us to do more".

The company has 700 British outlets, but says it has yet to turn a profit, and has paid just £8.6m in corporation tax in 14 years.

Starbucks says this is due to a process involving paying royalties to its European headquarters in the Netherlands.

Following criticism from lawmakers and a campaign by protest group UK Uncut, Starbucks said this week that it was reviewing its tax approach.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

starbucks  |  tax

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA's avoidance of junk status by rating agencies: Moody's and Fitch

Previous results · Suggest a vote

Loading...