Europe, Middle East and Africa Oil and Gas Correspondent
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Sep 2, 2014

Exclusive – Burger King has maneuvered to cut U.S. tax bill for years

LONDON (Reuters) – Burger King may have taken a lot of flack in the past week for a deal that should curb its U.S. tax bill but in many ways it is consistent with the burger chain’s aggressive tax-reduction strategies in recent years.

Some U.S. lawmakers and other critics attacked the company that is the home of the Whopper for deciding to move its tax base to Canada from the U.S. through its proposed purchase of Oakville, Ontario-based coffee and doughnut chain Tim Hortons. They say it will allow Burger King to avoid paying some U.S. taxes.

Sep 2, 2014

Insight – Burger King has maneuvered to cut U.S. tax bill for years

LONDON (Reuters) – Burger King may have taken a lot of flack in the past week for a deal that should curb its U.S. tax bill but in many ways it is consistent with the burger chain’s aggressive tax-reduction strategies in recent years.

Some U.S. lawmakers and other critics attacked the company that is the home of the Whopper for deciding to move its tax base to Canada from the U.S. through its proposed purchase of Oakville, Ontario-based coffee and doughnut chain Tim Hortons (THI.TO: Quote, Profile, Research). They say it will allow Burger King (BKW.N: Quote, Profile, Research) to avoid paying some U.S. taxes.

Sep 2, 2014

Burger King has maneuvered to cut U.S. tax bill for years

2 (Reuters) – Burger King may have taken a lot
of flack in the past week for a deal that should curb its U.S.
tax bill but in many ways it is consistent with the burger
chain’s aggressive tax-reduction strategies in recent years.

Some U.S. lawmakers and other critics attacked the company
that is the home of the Whopper for deciding to move its tax
base to Canada from the U.S. through its proposed purchase of
Oakville, Ontario-based coffee and doughnut chain Tim Hortons
. They say it will allow Burger King to avoid
paying some U.S. taxes.

Jun 11, 2014

EU investigates tax rulings on Apple, Starbucks, Fiat

LONDON/BRUSSELS (Reuters) – The European Commission raised pressure on Ireland, the Netherlands and Luxembourg over their corporate tax practices, saying it was investigating deals the countries have cut with Apple, Starbucks and Fiat.

The EU is looking at whether the countries’ tax treatment of multinationals, which help to attract investment and jobs that might otherwise go to where the companies’ customers are based, represent unfair state aid.

Jun 9, 2014

Britain becomes haven for U.S. companies keen to cut tax bills

LONDON, June 9 (Reuters) – Nothing about the narrow
cream-coloured lobby at 160 Aldersgate Street in the City of
London financial district gives a hint of its role at the centre
of the offshore oil industry.

That’s because the building is occupied by a law firm. Yet,
on paper at least, it is also home to Rowan Companies, one of
the largest operators of drilling rigs in the world.

May 13, 2014

Western corporate bosses pull out of Russian economic forum

MOSCOW/LONDON, May 13 (Reuters) – Around a dozen chief
executives and chairmen of major U.S. and European corporations
have withdrawn from an economic conference in Russia as pressure
between Moscow and the West grows over the crisis in Ukraine.

Eleven business leaders who were listed in late March as
scheduled to attend the May 22-24 St. Petersburg International
Economic Forum are no longer on the forum’s website.

May 13, 2014

Western bosses withdraw from Russian economic conference

MOSCOW/LONDON, May 13 (Reuters) – Around a dozen chief
executives and chairmen of major U.S. and European corporations
have pulled out of an economic conference in St Petersburg as
pressure between Russia and the West grows over the crisis in
Ukraine.

Eleven business leaders who were listed in late March as
scheduled to attend the St. Petersburg International Economic
Forum from May 22-24 are no longer on the programme on the
forum’s website.

May 13, 2014

North Sea tax change to end drillers’ 20-year tax holiday

LONDON, May 13 (Reuters) – A planned change in the way
Britain taxes North Sea drillers exposes the loophole in a
system that allowed an industry with annual revenues of 2
billion pounds to pay almost no corporation tax for two decades,
prompting accusations that the UK tax authority is falling down
on the job.

The change, announced by Finance Minister George Osborne in
March, caps the amount a UK company can deduct from profit for
leasing drilling rigs from an overseas unit in the same group.

May 12, 2014

Take That star’s tax avoidance condemned by Britain’s Cameron

LONDON (Reuters) – Prime Minister David Cameron on Monday criticized a tax avoidance scheme used by one of Britain’s biggest pop stars, but rejected calls to strip Gary Barlow of a state honor.

Barlow, two other members of his group Take That and their manager may have to pay more than 9 million pounds ($15 million) to the state after a judge found an investment scheme they had used was aimed primarily at avoiding tax.

May 12, 2014

Barlow’s tax avoidance condemned by Cameron

LONDON (Reuters) – Prime Minister David Cameron on Monday criticised a tax avoidance scheme used by one of Britain’s biggest pop stars, but rejected calls to strip Gary Barlow of a state honour.

Barlow, two other members of his group Take That and their manager may have to pay more than 9 million pounds to the state after a judge found an investment scheme they had used was aimed primarily at avoiding tax.

    • About Tom

      "Tom leads our coverage of the oil and gas industry in Europe, the Middle East and Africa and is also author of 'Spills & Spin: The Inside Story of BP'. A former oil broker who turned to journalism 12 years ago, he is regularly interviewed on CNBC and other TV and radio stations on energy matters. Tom has reported from over twenty countries including Iran, Iraq, India, Pakistan, Tanzania, the U.S. and Russia. As Europe, Middle East and Africa Oil & Gas Correspondent, he has chartered the rise in oil prices to record levels, interviewed oil ministers and the CEOs of ..."
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