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Tags: Starbucks | UK | Taxes | britain

Starbucks Promises to Pay Higher UK Taxes

Thursday, 06 December 2012 09:07 AM EST

Starbucks says it will pay about 10 million pounds ($16 million) 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 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 8.6 million pounds 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 U.K. Uncut, Starbucks said this week that it was reviewing its tax approach.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Starbucks says it will pay about 10 million pounds ($16 million) in British tax in each of the next two years, after being accused by the country's lawmakers of "immorally" avoiding tax.
Starbucks,UK,Taxes,britain
129
2012-07-06
Thursday, 06 December 2012 09:07 AM
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