Article 5K8AC Starbucks received UK tax credit in 2020 despite making profit in US

Starbucks received UK tax credit in 2020 despite making profit in US

by
Jasper Jolly
from US news | The Guardian on (#5K8AC)

Starbucks uses complex tax structure in Europe and has faced criticism for lack of transparency

Starbucks received a tax credit worth 4.4m in the UK because of losses in 2020, despite the coffee chain's US parent company making a profit during the same period of $1.2bn (870m).

The loss comes after a year in which Starbucks was forced by the pandemic to temporarily close all of its 935 UK shops, leading to a steep fall in revenues.

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