We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedGovernance

Multinational execs to appear before UK tax committee


Google, Amazon and Starbucks executives to be quizzed by MPs

Article comments

Senior finance executives from some of the world’s leading multinational companies are to appear before the UK Public Accounts Committee (PAC) to answer questions on corporate tax payments.

The PAC, chaired by MP Margaret Hodge, will quiz executives from the UK operations of Google, Amazon and Starbucks, it was confirmed on Monday.

Matt Brittin, the chief executive of Google UK, Starbucks chief financial officer Troy Alstead and Amazon's director of public policy Andrew Cecil, are expected to give evidence to the committee.

In recent months all three companies have been accused of paying minimal or no tax on theIR British earnings. The discussion is expected to centre around the issue of tax avoidance by their regional units in a cross jurisdictional manufacturing, supply, purchase and sales chain.

The recent inquiry was triggered by a recent Reuters’ investigation which revealed that Starbucks has reportedly paid a mere £8.6 million in corporation tax in the UK over a period of 14 years. Subsequently, several news reports alleged that Google, Amazon, Facebook, Apple and eBay had employed UK tax loopholes to mitigate domestic corporation tax levies.

In wake of the revelations, all the aforementioned companies have stated that they had complied with existing UK laws and met all their obligations on domestic taxation. The hearing beings at 15:15 BST.

Share:

Comments

Multinational execs to appear before UK tax committee
Governance

What makes a good board report?

What makes a good board report?

Examining how CFOs can improve the way they report back to the boardmore ..


Vodafone buys out partner's stake in Indian unit

Mobile giant acquires the remaining 11% it did not already ownmore ..

Financial advisers not being clear enough on charges, says watchdog

FCA’s review found 73% of firms failed to provide adequate informationmore ..

EU data retention rules violate privacy rights, EU court rules

Rules requiring telcos to retain communications metadata are disproportionate, the court saidmore ..

Examining the issue of corporate litigation funding

Litigation funding is a very useful tool for CFOs but not a panacea for all legal mattersmore ..

Corporate governance: A catalyst for innovation

Corporate governance is a powerful tool in a C-suite executive’s arsenalmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..

Advertisement

* *