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...

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