The U.K. Parliament's Public Accounts Committee has asked executives from Starbucks, Google and Amazon to attend a hearing on Monday, Nov. 5, to ask about the companies' U.K. tax payments, Reuters reports.
A committee spokesman said it was possible the hearing would be rescheduled to a later date.
Reuters reported last month that Starbucks has paid 8.6 million pounds in corporate taxes in the U.K. in the 14 years it has operated in the country. A Reuters story today that looks at the coffee chain's European operations says that while Starbucks told investors its European businesses had posted a $40 million profit in 2011, its accounts for its three biggest units in Europe, in the U.K., France and Germany, showed a $60 million loss.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
