Wednesday, 5 December 2012

Ourbucks, you're having a latte

According to the Reuters investigation, Starbucks generated £398m in UK sales last year but paid no corporation tax and it found Starbucks had made over £3bn in UK sales since 1998 but had paid less than 1% in corporation tax!  At 20% profit (not unreasonable) they have avoided over £100m in tax.  

Starbucks claim in the FT that they haven’t been as profitable as they would like is obviously a joke. If  it turns out that they have been subsidising the UK business with profits from abroad or dumping prises to grow market share that is anti-competitive activity, where the penalties will be worse that a little back tax 

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