% | $
Quotes you view appear here for quick access.

Starbucks Corporation Message Board

  • moveont moveont Jun 4, 2014 1:52 PM Flag

    WAKE THE F------------------------AND SMELL THE SBUX STINK


    Starbucks has paid £5m corporation tax this year with a further £5m to come. It says it will pay another £10m in 2014. Photograph: Johnny Green/PA

    Starbucks, one of the companies exhorted by the prime minister to "wake up and smell the coffee" over tax, has handed over £5m to HM Revenue and Customs – its first payment in five years.

    But the cash has only gone some way towards assuaging critics, one of whom complained that companies should not be able to "pick and choose" how much tax they wanted to pay.

    The coffee shop chain said on Sunday it had made the contribution to please its customers and would be paying a second £5m instalment in the last half of the year despite claiming the business overall continued to make a financial loss in Britain.

    "Six months ago, we felt that our customers should not have to wait for us to become profitable before we started paying UK corporation tax," the company explained in a written statement.

    "We listened to our customers in December and so decided to forgo certain deductions which would make us liable to pay £10m in corporation tax this year and a further £10m in 2014. We have now paid £5m and will pay the remaining £5m later this year," Starbucks

    This topic is deleted.
    SortNewest  |  Oldest  |  Most Replied Expand all replies
57.36+1.13(+2.01%)4:00 PMEDT