Close
Log in
Please enter your login details

Skip to main content

Breaking News
  • Two car bombs explode in Yemen city of Hodeida, killing two suicide attackers – Houthi sources (Reuters)
  • LIVE: EU leaders summit on Juncker’s investment plan
  • Russian Foreign Ministry says new EU sanctions on Crimea “absolutely unacceptable” – Reuters
  • Dutch PM Rutte not going to EU summit due to domestic political crisis – national Dutch news agency (Reuters)
Starbucks pays first UK corporation tax in five years

Multinational coffee giant Starbucks has made its first corporation tax payment in the UK since 2008. The British treasury’s coffers benefited to the tune of some five million pounds (5.85 million euros).

The Sunday Telegraph reported that the payment was for the first six months of the year, despite the business making a loss of 30 million pounds (35 million euros) in Britain during that period.

Starbucks has been heavily criticised for its tax avoidance schemes, which have allowed it to declare a loss on its UK trading in 14 out of the last 15 years, and thus avoid tax.

The move followed sustained pressure from the British government. Responding to public anger, the government has tried to shame companies that seek to minimise tax payments on their earning.

Copyright © 2014 euronews

More about:

Check out today's top stories