Starbucks' Tax Bill In UK Climbs While Profits Fall

Law360 (June 27, 2019, 2:47 PM EDT) -- Starbucks Corp.'s European business paid significantly more tax in the U.K. in the last fiscal year even though profits in the country fell, the company’s annual accounts showed Thursday.

Starbucks, which has been heavily criticized in the past for the amount of tax it pays in the U.K., paid $23.6 million in tax in the U.K. in the 2018-2019 fiscal year, an increase of almost 70% compared with the year before, on pretax profits of $99.5 million, the company said. That reflects an effective tax rate of 23.7%, or 4.7 percentage points more than the U.K.’s corporate tax rate, 19%.

The company's...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related

Sections

Companies

Government Agencies