Partly Cloudy

Partly Cloudy

max temp: 21°C

min temp: 14°C

ESTD 1874 Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

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.

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.

Search hundreds of local jobs at Jobs24

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

A computer-generated image of how the Sizewell complex will look after construction of Sizewell C.

Britain is set to get its first new nuclear power station in generations as EDF’s directors approve investment in Hinkley Point.

A Lloyds Bank branch in Halesworth. Lloyds Banking Group has announced it will close 200 branches and cut 3,000 jobs.

Lloyds Banking Group is cutting 3,000 jobs and shutting 200 branches as the lender braces for a cut in interest rates following Britain’s decision to quit the European Union.

Damian Lewis as Bobby

Game Of Thrones broadcaster Sky has brushed aside economic uncertainty surrounding Britain’s referendum on the European Union to drive up revenues and profits.

Almost 400,000 customers deserted British Gas in the first half of the year as its parent firm, Centrica, saw profits take a dive.

Almost 400,000 customers deserted British Gas in the first half of the year as its parent firm, Centrica, saw profits take a dive.

Suffolk Chamber of Commerce chief executive John Dugmore unveiling the chamber's new-look branding at a summer garden party held at Willis Towers Watson Rooftop Garden in central Ipswich.

Suffolk Chamber of Commerce has unveiled its new branding and identity at a ceremony in Ipswich.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

Great British Life

Great British Life
MyDate24 MyPhotos24