Starbucks and its tax position- MEGATHREAD

[the_wicker 10]

A fairly depressing article here (one of many today) explaining how Starbucks have paid no tax at all in the UK since 2009, and only £8m in the 14 years they've been in the UK, despite sales of 3 billion.

 

Disgraceful given the state the country's in - think I'd rather spend my money elsewhere, and hope that people will show them the error of their ways by boycotting them

 

http://www.independent.co.uk/news/business/news/good-bean-counters-starbucks-has-paid-no-tax-in-uk-since-2009-8212579.html

[Happ Hazzard 10]

You pay taxes on profit, not sales.

[maxmaximus 10]

No thanks I like Starbucks.

Besides that they employ lots of people that would otherwise be out of work and not paying tax.

[SpecialPG 10]

the rich get richer, the poor get shafted, this government wont change anything that goes against their credo

[maxmaximus 10]

the rich get richer, the poor get shafted, this government wont change anything that goes against their credo

 

Poor people can’t afford Starbucks so they aren’t really getting shafted, Starbucks do however employ people that might be poor if not for their job at Starbucks.

[alchresearch 215]

Another tabloid lie to get people enraged.

 

Headline: Good bean counters? Starbucks has paid no tax in UK since 2009

 

No tax. Nothing?

 

Article: Starbucks has exploited accounting tricks to pay almost no UK tax

 

Ah, so now it's "almost".

 

Read on.

 

Article: An investigation showed that the coffee company has paid only £8m in corporation tax

 

So it's gone from "none" to "almost none" to "£8 million".

 

I wonder how much it will be by the end of the article and will it still be an outrage.

[SpecialPG 10]

Poor people can’t afford Starbucks so they aren’t really getting shafted, Starbucks do however employ people that might be poor if not for their job at Starbucks.

thats the governments credo not stabucks...though starbucks are quite expensive lol

[the_wicker 10]

I honestly despair at some of the responses to this

[green 10]

Lets put some facts to this story then.... http://www.guardian.co.uk/business/2012/oct/15/starbucks-tax-uk-sales

 

In 2007, the chief operating officer, Martin Coles, told analysts in a fourth quarter results presentation that the UK unit's profits were funding Starbucks' expansion in overseas markets. The chief finance officer at the time, Peter Bocian, added that the UK division enjoyed operating profit margins of almost 15% that year, equivalent to nearly £50m in profit.

 

Accounts filed with Companies House, which must be a truthful reflection of the business, according to HM Revenue & Customs (HMRC), showed a 10th consecutive annual loss.

 

A year later, after filing a £26m loss in the UK, Starbucks' chief executive, Howard Schultz, told investors the business here was so successful he planned to apply the lessons to the company's biggest market in the US.

 

Chief financial officer, Troy Alstead, called the UK business "profitable" in 2009 after accounts revealed a record £52m loss. Last year, John Culver, the president of Starbucks international division, said: "We are very pleased with the performance in the UK." Accounts reported a £33m loss.

 

The facts are we continually have big business using teams of accountants to avoid paying tax. Moving revenues through tax havens, &/or using accounting procedures to minimise UK tax by announcing head offices are in cheaper tax locations (see Switzerland/Luxemburg/Cayman Islands) or stating losses from one country are off set against another.

 

Ive moaned about this for over 3 years now, its killing our economy, and our public purse, and we, the little men then end up with bigger tax bills.

 

Boycott the lot of them.......!

[Happ Hazzard 10]

Why doesn't the government cut expenditure instead of spending more than they have coming in?

[maxmaximus 10]

Why doesn't the government cut expenditure instead of spending more than they have coming in?

 

Because some people think jobs would be lost, then again these same people want to boycott Starbucks so jobs would be lost.

[green 10]

Why doesn't the government cut expenditure instead of spending more than they have coming in?

 

Why doesnt the Govt stop the Mandarins moving to fire arms companies?

 

Why doesnt the Govt cut expenditure for their white elephant schemes?

 

Why doesnt the Govt collect the right & proper tax and have a HMRC dept that is fit for purpose?

 

 

Lets sort out all the corruption in the Govt / big business and then look at expenditure hey?