Europe, Middle East and Africa Oil and Gas Correspondent
Tom's Feed
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?

Oct 31, 2012

MPs to grill Starbucks, Amazon and Google on tax

LONDON (Reuters) – A parliamentary committee has invited executives from Starbucks Corp, Google Inc and Amazon.com Inc to answer questions about their tax practices, which allow them to make significant sales in the UK, but pay little tax here.

The Public Accounts Committee asked senior officials from the companies to address a hearing on November 5, but a spokesman said scheduling problems could mean the hearing might be held later in November.

Oct 31, 2012

UK lawmakers to grill Starbucks, Amazon and Google on tax

LONDON (Reuters) – A UK parliamentary committee has invited executives from Starbucks Corp, Google Inc and Amazon.com Inc to answer questions about their tax practices, which allow them to make significant sales in the UK, but pay little tax here.

The Public Accounts Committee asked senior officials from the companies to address a hearing on November 5, but a spokesman said scheduling problems could mean the hearing might be held later in November.

Oct 31, 2012

Google denies 1 billion euro French tax claim

PARIS/LONDON (Reuters) – Google denied a newspaper report on Wednesday that it had received a 1 billion euro tax claim from the French authorities.

The weekly Canard Enchaine said in an unsourced report that the French Tax Administration was looking into whether Google’s practice of charging French advertisers via its European headquarters in Ireland led it to underpay taxes in France.

Oct 25, 2012

UK lawmakers slam Starbucks tax deal

LONDON (Reuters) – British lawmakers have criticized a deal the tax man made with Starbucks (SBUX.O: Quote, Profile, Research, Stock Buzz) that allowed the coffee chain to almost eliminate its UK tax bill by deducting royalties the group paid itself for the use of its own brand.

Starbucks Chief Financial Officer Troy Alstead told Reuters the UK tax authority had questioned its practice of paying 6 percent of turnover as royalties to a Dutch subsidiary and that the two parties had agreed to lower it to 4.7 percent.

    • 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 ..."
    • Follow Tom