![Starbucks paid corporation tax of £7m in UK on sales of £550m](https://cdn.magzter.com/1588175106/1712367517/articles/9mnpkR0mb1712370307023/STARBUCKS-PAID-CORPORATION-TAX-OF-7M-IN-UK-ON-SALES-OF-550M.jpg)
The company's UK division, which has faced years of criticism for paying very little to the Treasury, paid £40.4m in royalty and licence payments to a parent company, more than five times the tax it paid to HM Revenue and Customs.
Starbucks EMEA, which collects royalty payments from the UK and 42 countries across Europe, the Middle East and Africa, paid a $325m (£257m) dividend to the chain's parent company in Seattle, according to accounts filed at Companies House yesterday.
That helped Starbucks HQ to make a global profit of $5.8bn. Howard Schultz, its billionaire former long-term chief executive, owns just under 2% of Starbucks shares, worth just over $2bn.
In 2012, it was revealed that Starbucks had paid only £8.6m in taxes on £3bn in UK sales since 1998, when it launched its first UK coffee shop.
This story is from the April 06, 2024 edition of The Guardian.
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This story is from the April 06, 2024 edition of The Guardian.
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