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 ..


FRC consults on governance code

The watchdog is looking at clawback clauses among other governance issuesmore ..

Review to blame weak governance at Co-op bank

The Kelly Review will pinpoint the Britannia building society takeover as the main problem at the bank, the BBC claimsmore ..

Vince Cable plans to unmask hidden company owners

A public register of company owners will be created whichpolice and tax authorities can usemore ..

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
Do you have what it takes to become a non-executive?

Do you have what it takes to become a non-executive?

The benefits of board service for CFOs more ..

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 ..

Advertisement

* *