Europe, Middle East and Africa Oil and Gas Correspondent
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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.

Oct 25, 2012

UK parliamentarians slam Starbucks tax deal

LONDON (Reuters) – British parliamentarians have criticised a deal the tax man made with Starbucks (SBUX.O: Quote, Profile, Research) 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.

Oct 20, 2012

Starbucks brand hit by UK tax criticism

LONDON, Oct 20 (Reuters) – Starbucks’s reputation among
consumers in Britain has been hit by wave of criticism of its
tax affairs from politicians and the media, pollster YouGov
said.

A Reuters report showed the coffee chain paid no tax on 1.2
billion pounds of sales in recent years by telling the taxman it
was making no profit, even as it told investors the unit was
“profitable”.

Oct 18, 2012

UK taxman says cost of evasion and avoidance hits 32 bln stg

LONDON, Oct 18 (Reuters) – Britain’s taxman said the cost of
non-compliance with tax rules cost the government 32 billion
pounds ($51.73 billion) in lost revenues in 2010-11, up from 31
billion a year earlier.

Tax avoidance has become a charged subject in Britain amid
austerity budget cuts and the government is under pressure to
show it is ensuring big business and the wealthy bear their
share of the economic burden.

    • 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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