Partly Cloudy

Partly Cloudy

max temp: 6°C

min temp: 2°C

ESTD 1874 Search

UK: Starbucks to move Europe HQ to UK

11:00 16 April 2014

Starbucks is moving its HQ to London

Starbucks is moving its HQ to London

Starbucks is moving its European headquarters from the Netherlands to the UK following a row over tax avoidance.

shares

The coffee shop chain announced it would “pay more tax in the UK” when its regional head office is relocated from Amsterdam to London by the end of the year.

A “modest” number of senior executives will move to London so the firm will be “better able to oversee the UK market”, the company said in a statement.

The regional offices of its Middle East and Africa businesses will also be moved to the UK capital.

Kris Engskov, Starbucks’ president of Europe, the Middle East and Asia, said: “Closer proximity to our biggest market will be critical to our success as we grow our business across Europe and the globe.”

Concern over the amounts paid by the likes of Starbucks, Google and Amazon has drawn political attention to the question of how multibillion-pound corporations structure their tax affairs.

The company told MPs in 2012 it had made a loss for 14 of the 15 years it has operated in the UK, achieving just a small profit in 2006.

In a fiery showdown with the Commons Public Accounts Committee in 2012, Starbucks insisted it was “an extremely high taxpayer” globally and acted “to an ethical” as well as a legal standard, despite declaring losses on its UK operation.

Last year the firm paid corporation tax in the UK for the first time since 2008, as it committed to pay £20m over two years.

shares

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Jo Harris worked at the B&M store in Copdock until 2013, and despite being an employee there was issued two fines of £70 for parking.

A group of former employees at a store in Ipswich have been left distraught after car park fines mistakenly issued more than two years ago has left them facing a court appearance.

RAF Mildenhall is due to close in four years.

Science, technology and engineering are three words which many are hoping will become synonymous with west Suffolk if several new projects can be pulled off.

A British Airways Embraer airliner at London City Airport

British Airways is to start flying from Stansted Airport this summer, it was announced today.

Stoke by Nayland Hotel, Golf & Spa.

Stoke by Nayland Hotel, Golf & Spa has been named as a finalist in VisitEngland’s Awards for Excellence.

Thompson and Frist Choice travel brochures.

Thomson and First Choice owner TUI said yesterday that summer holiday bookings to Turkey had slumped by 40% after recent terrorist attacks.

Most read

Fred Olsen Travel Sale

cover

Click here to view
the Fred Olsen
Travel Sale

View

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Great British Life

Great British Life
MyDate24 MyPhotos24