Europe, Middle East and Africa Oil and Gas Correspondent
Tom's Feed
Nov 30, 2012

EBay’s double tax base prompts calls for investigation

LONDON, Nov 27 (Reuters) – Britain and Germany may have
missed out on a combined $1 billion in sales tax since online
marketplace eBay picked a tiny Luxembourg office as its
base for EU sales, a shift that lawmakers say should now be
investigated.

EBay’s nomination of Luxembourg unit eBay Europe Sarl – with
a staff of nine – as its provider of services to EU clients
allows it to charge customers in Europe a low rate of sales tax,
often known as Value Added Tax, helping it to compete against
rivals.

Nov 23, 2012

BP reorganises oil production unit

LONDON, Nov 23 (Reuters) – BP unveiled a
reoganisation of its oil and gas production operations on
Friday, reversing a change it enacted after the Gulf of Mexico
oil spill.

The latest move is partly intended to free Chief Executive
Bob Dudley up from close oversight of day-to-day operations so
he can help chart BP’s recovery from the disaster which killed
11 men and spilled 5 million barrels of crude into the sea,
three sources close to the company said.

Nov 23, 2012

Exclusive: BP to restructure oil production unit – sources

LONDON (Reuters) – BP is planning to announce a reorganization of its oil and gas production operations, three sources familiar with the matter said, the second significant restructuring of its main cash generator since the Gulf of Mexico oil spill.

The latest changes will undo some of the measures Chief Executive Bob Dudley imposed in 2010 and are partly intended to free him up from close oversight of day-to-day operations so he can help chart BP’s recovery from the disaster which killed 11 men and spilled 5 million barrels of crude into the sea.

Nov 23, 2012

BP to restructure oil production unit-sources

LONDON, Nov 23 (Reuters) – BP is planning to announce
a reorganisation of its oil and gas production operations, three
sources familiar with the matter said, the second significant
restructuring of its main cash generator since the Gulf of
Mexico oil spill.

The latest changes will undo some of the measures Chief
Executive Bob Dudley imposed in 2010 and are partly intended to
free him up from close oversight of day-to-day operations so he
can help chart BP’s recovery from the disaster which killed 11
men and spilled 5 million barrels of crude into the sea.

Nov 12, 2012

MP slam Starbucks, Amazon and Google on tax

LONDON (Reuters) – MPs criticised executives of Starbucks, Google and Amazon on Monday for not paying more tax in Britain and Amazon said it had received a $252 million (158.7 million pounds) demand for back taxes from France.

Britain’s Public Accounts Committee (PAC), which is charged with monitoring government financial affairs, invited the companies to give evidence amid mounting public and political concern about tax avoidance by big international companies.

Nov 12, 2012

UK lawmakers slam Starbucks, Amazon and Google on tax

LONDON, Nov 12 (Reuters) – UK lawmakers criticised
executives of Starbucks, Google and Amazon
on Monday for not paying more tax in Britain and Amazon
said it had received a $252 million demand for back taxes from
France.

Britain’s Public Accounts Committee (PAC), which is charged
with monitoring government financial affairs, invited the
companies to give evidence amid mounting public and political
concern about tax avoidance by big international companies.

Nov 12, 2012

Amazon receives $252 mln back tax claim

LONDON, Nov 12 (Reuters) – Internet retailer Amazon
said it had received a $252 million demand from the French tax
authorities for back taxes, interest and penalties in relation
to “the allocation of income between foreign jurisdictions”.

The claim comes as European countries step up efforts to
clamp down on U.S. companies which minimise their tax bills in
the continent by chanelling profits through low-tax regimes.

Nov 12, 2012

Starbucks, Amazon and Google to face UK lawmakers over tax

LONDON, Nov 12 (Reuters) – UK lawmakers will quiz executives
of Starbucks, Google and Amazon on
Monday about how they have managed to pay only small amounts of
tax in Britain while racking up billions of dollars worth of
sales here.

The Public Accounts Committee (PAC), which is charged with
monitoring government financial affairs, has invited the
companies to give evidence amid mounting public and political
concern about tax avoidance by big international companies.

Nov 1, 2012

Starbucks’s European tax bill disappears down $100 mln hole

LONDON (Reuters) – Starbucks (SBUX.O: Quote, Profile, Research) told investors its European businesses made a $40 million profit in 2011, but accounts filed for its UK, German, and French units, which make up 90 percent of European revenues, showed a loss of $60 million.

Did the coffee giant lose $100 million in the year between advising investors and filing its returns to European tax men?

Nov 1, 2012

Special Report: Starbucks’s European tax bill disappears down $100 million hole

LONDON (Reuters) – Starbucks told investors its European businesses made a $40 million profit in 2011, but accounts filed for its UK, German, and French units, which make up 90 percent of European revenues, showed a loss of $60 million.

Did the coffee giant lose $100 million in the year between advising investors and filing its returns to European tax men?

    • 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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