Starbucks Confronts No-Tax Revelations

[pipewrench]

http://www.huffingtonpost.com/2012/12/02/starbucks-tax-uk_n_2227613.html?utm_hp_ref=business

"Coffee chain Starbucks said it was considering changes to its UK tax practices, which allowed it to make billions in revenue while paying little in income taxes, following criticism from lawmakers, tax campaigners and the media.

A Reuters examination of Starbucks accounts published in October showed the company had reported 13 years of losses at its UK unit, even as it told investors the operation was profitable and among the best performing of its overseas markets.

The chain's UK unit paid no corporation tax - a tax on a company's income - in the last three years for which figures are available and has only paid 8.6 million pounds income tax since 1998, despite racking up 3 billion pounds ($4.8 billion) of sales."

The system is broken and in denial.........

[virgogal]

1. Shame on Starbucks.

[HiPointDem]

2. the more such reports come out, the more this kind of thing appears to be the norm.

maybe we should ask, which corporations actually *do* pay any significant taxes on a regular basis?