Starbucks UK tax bill comes under scrutiny
Starbucks, which has $40bn (£24.9bn) market valuation, paid nothing in UK corporation tax last year, despite making sales of £398m.
Starbucks’ UK annual results for the year ending October 2, 2011, show the company made a £32.9m loss, which is why it is not liable for tax.
Simple enough. Don\’t make a profit, don\’t pay a profit related tax.
HMRC said that companies like Starbucks were constantly “discussed” but that just because there was a high turnover it did not mean the company was liable for Tax in the UK.