Starbucks Corp, the world’s largest coffee chain, will relocate its European headquarters from Amsterdam to London, following criticism last year of the group’s level of tax payments in the UK, reports
The British daily quoted Kris Engskov, Starbucks’ president of Europe, the Middle East and Africa (EMEA), who said the relocation was primarily to get closer to the UK as its biggest and fastest-growing market in Europe
, senior executives will transfer to Starbucks’ head office in Chiswick, west London, although manufacturing jobs will remain in the Netherlands.
Starbucks said it would pay more tax in the UK following the relocation, which it expects to complete before the end of the year, although globally its bill would remain “relatively neutral,” the daily added.
Last June the group said that it would pay or pre-pay around £10m (US$16.7m) a year in taxes in 2013 and 2014, following revelations that it had paid no UK tax for the year to 30 September 2012.
On the second day of this year's AFP conference Trump's potential tax reform, using synthetic debt and the expected benefits of SWIFT GPI were all hotly discussed topics.
Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.