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Starbucks Corporation Message Board

  • willpowerrss willpowerrss Jun 20, 2013 11:02 AM Flag

    Corpoate citizenship

    Tax evasion has steadily crept up the EU's political agenda as governments struggle to increase revenues in a time of economic slowdown and to cut their budget deficits.

    The EU's top official for tax, Algirdas Semeta, said last week he wanted even stricter rules to require banks to provide customer information allowing countries to clamp down on tax dodging.

    Wealthy Luxembourg, a longtime defender of banking secrecy, has signed up to exchanging information about EU citizens' bank accounts from 2015, but its officials have been rowing back in private on the type of data they are willing to hand over.

    U.S. coffee chain Starbucks agreed to pay an additional 20 million pounds ($31.32 million) in U.K. tax last year after a Reuters investigation showed it assured investors the country was a profitable market after telling tax authorities its operations there lost money.

    Revelations that other high-profile corporations such as Apple and Amazon have shifted profits around the world to cut their tax bills have also stoked public anger over tax avoidance schemes offered by countries.

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