Topic: Margaret Hodge
Angry over the negligible corporate taxes that Starbucks and other corporations have paid to Britain despite huge revenues, a protest group is threatening to occupy Starbucks shops on Saturday.
Starbucks, Google, and Amazon were among the major multinational corporations accused by lawyers of exploiting British tax laws to move UK-made profits overseas. Starbucks announced it is reviewing its tax practices in a bid to restore public trust.
Industry analysts say new fees and taxes could bring in needed money to a region where some debts are near that of Greece. But could they scare off investors?
Amazon confirmed during a hearing with Britain's Public Accounts Committee that the French tax authority asked them for the amount in September.