G7 leaders agree to back a global corporate tax of at least 15%
I an skeptical about its practical effects, but it is one of the very few decisions that I agree must be taken on a global scale.
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Mugin16 · 46-50, M
@Cierzo Don't worry. Starbucks kindly offered to pay £10 million to the British tax authorities as a "voluntary contribution" back in 2012:
"Starbucks is volunteering to pay £10m in taxes in each of the next two years as it attempts to win back customers following revelations that it has paid no corporation tax in the UK in the past three years.
[...]
Corporation tax is levied on profits but Starbucks has avoided paying it for three years in the UK through complex international payments within the company known as transfer pricing. Starbucks currently makes a loss due to a 4.7% premium paid to the Netherlands division – where the coffee beans are roasted, and another 20% premium to Switzerland to buy the coffee beans. The company said it would not claim deductions on these payments, or against intercompany loans."
Starbucks' records show that it has made a "loss" (yeah, right!) in almost every year:
"Starbucks UK would need to turn a profit of £41.6m if it was to legitimately owe HMRC the £10m corporation tax it plans to pay next year.
However, it has made a loss for nearly every year it has traded in the UK, paying just £8.6m in corporation tax over the 14 years it has been here due to challenges by HMRC."
https://www.theguardian.com/business/2012/dec/06/starbucks-to-pay-10m-corporation-tax
"Starbucks is volunteering to pay £10m in taxes in each of the next two years as it attempts to win back customers following revelations that it has paid no corporation tax in the UK in the past three years.
[...]
Corporation tax is levied on profits but Starbucks has avoided paying it for three years in the UK through complex international payments within the company known as transfer pricing. Starbucks currently makes a loss due to a 4.7% premium paid to the Netherlands division – where the coffee beans are roasted, and another 20% premium to Switzerland to buy the coffee beans. The company said it would not claim deductions on these payments, or against intercompany loans."
Starbucks' records show that it has made a "loss" (yeah, right!) in almost every year:
"Starbucks UK would need to turn a profit of £41.6m if it was to legitimately owe HMRC the £10m corporation tax it plans to pay next year.
However, it has made a loss for nearly every year it has traded in the UK, paying just £8.6m in corporation tax over the 14 years it has been here due to challenges by HMRC."
https://www.theguardian.com/business/2012/dec/06/starbucks-to-pay-10m-corporation-tax
