FINANCIAL TIMES: Starbucks is “in discussions” with Revenue & Customs about its tax arrangements, as it prepares to bow to public pressure over allegations of avoidance.
The coffee chain said that as part of its effort to build public trust “we are looking at our tax approach in the UK. The company has been in discussions with HMRC for some time and is also in talks with the Treasury.”…
The move is an attempt to draw a line under the damaging controversy surrounding Starbucks paying just £8.5m of corporation tax since 1998…. (more)
EDITOR: Along with other multi-nationals, Starbucks reportedly avoids almost all corporate income taxes here in the USA and elsewhere through channeling its profits to subsidiaries in tax havens. It is time that some citizens begin picketing their outlets with signs accusing them as ‘tax dodgers.’
