Sunday, 23 June 2013

Some bucks from Starbucks

Starbucks have caved into pressure from bad PR and coughed up a voluntary sum of tax:
Starbucks has only reported taxable profit once in 15 years in the UK. 
It announced late last year it would pay more corporation tax after a public outcry and an investigation by MPs. 
"We listened to our customers in December and so decided to forgo certain deductions which would make us liable to pay £10m in corporation tax this year and a further £10m in 2014," a Starbucks spokeswoman said.
How exactly it has created a liability remains to be seen.

After waking up late and only picking up the story an hour ago, UK Uncut have issued this:
This is just a PR stunt- who is to say these funds won't come straight out of Starbuck's marketing budget? Such desperate attempts by Starbucks to deflect public pressure will get them nowhere. The government must force Starbucks and every other tax dodging company to pay their fair share, instead of inflicting brutal cuts on those least able to shoulder the burden of austerity."
And they are right about the PR stunt bit; it's money to try and kill off bad publicity but Starbucks are damned if they do and damned if they don't. It also looks like they've had a bit of a revelation. Yep, they've finally realised that it's the government who can change things so that companies pay more tax. So there's your target UK Uncut, not the companies that just follow the law.

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