Starbucks reported its biggest profit of all time in the UK, and it can serve as a long-term completion of a tax dispute with the British government.
After the company was involved in a major tax scandal in 2012, when it was accused of tax evasion, Starbucks paid UK a large sum of income tax for the first time this year.
The company paid the tax in the amount of £ 8,1 million to a profit of £ 34.2 million. And it is a little bit less than it paid for all 14 years of its work in the UK.
The results show a desire to change the attitude of the British government to the Starbucks, to draw a line in the tax scandal and build a compact and successful business through actions such as the francise transferring of 74 companies’ places. Jeffrey Young, Managing Director of Allegra Group commented that the company is ready to develop and expand in the UK, the demand in the coffee market is growing, and this step aims to get rid of an expensive lease, which prevents us to take the path of growth for many years.
There are a lot of comments about Starbucks decisions, including, among applications bloggers said that the British government knowingly accused the company of violating tax laws, Starbucks was not able to pay, because they had no income because of the high price for rental of premises .
Starbucks is one of the largest companies for coffee saling in the world and it has a lot of coffeehouses in the world. In the third quarter of 2015 the profit rose 22.3% on a year-on-year basis , to $ 626.7 million. Starbucks Profits per share were $ 0.41 versus $ 0.34 last year, and this justified the predictions of experts. The company’s revenue for the third quarter increased for 17.5% to $ 4.881 billion. In the third quarter, the company opened 431 new coffee houses, which is 87% more than in the 2013-2014 fiscal year.
Earlier the headquartered of the company was situated in the Netherlands, now the company moved its headquarters to the United Kingdom.
The tax authorities said they would closely monitor the activities of the company for it does not “merge” cash and does not hold any financial fraud at a profit.
Exports of goods accounts for a third of Ukraine’s GDP.But we sell primarily raw materials abroad. It is a marker of underdeveloped countries and a path that does not contribute to economic development. Our state’s strategic task is to increase the exports of high-tech goods with high added value: that is, not just to grow […]
Apple Inc, according to a lawsuit filed by Epic Games Inc., must allow mobile app developers to redirect users to alternative resources to pay for services in the App Store. The Wall Street Journal reported this. A 30% commission is now charged on each purchase. Judge Yvonne Gonzalez Rogers concluded that Apple’s practice was uncompetitive […]
The World Bank will provide Ukraine with a second tranche of $ 350 million, but subject to certain conditions. WB Vice President for Europe and Central Asia Anna Bjerde told Interfax-Ukraine what exactly is expected from Kyiv. “The prospects for the second tranche of the Economic Recovery Development Policy Loan depend on maintaining an adequate […]
September 13, 2021 — Stockholm, Sweden — Beetroot AB, the tech division of the Beetroot ecosystem, opens a new location in Mariupol, Ukraine. The company is currently accepting applications for over fifty software development vacancies in its international client projects. In Mariupol, Beetroot will focus on building teams of tech specialists to work on a […]
The American multinational corporation Google, fined in France for copyright infringement, has announced its intention to appeal the decision of the French regulatory authorities. This was announced on Wednesday, September 1, the chairman of the board of Google France Sebastien Missoff. “We do not agree with some legal nuances and consider the amount of the […]
As of September 1, 11,499 agreements have been concluded within the land market. Poltava (2,873.6 ha) and Kharkiv (2,747.4 ha) regions are in the lead. This was reported by the press service of the Ministry of Agrarian Policy. It is noted that 4836 notaries have applied for access to the State Land Cadastre. A total […]
In the first half of 2021, Metinvest earned $ 2.769 billion compared to a loss of $ 240 million a year earlier, according to the company’s press service. According to the financial report, as of June 30, the Group’s net debt decreased by 52% since the beginning of the year – to $ 1.016 billion, […]
The State Property Fund of Ukraine has put the Vinnytsia diamond processing plant Crystal up for privatization auction for almost 90 million hryvnias. This is stated in the message of the Foundation. It is noted that the plant not only cuts and grinds precious stones, but also makes jewelry. They produce more than five thousand […]
The Antimonopoly Committee of Ukraine allowed domestic pharmaceutical manufacturer “Farmak” to buy a Polish pharmaceutical company KWW Kotkowski Wierzbicki W?grzyn sp.j. “PJSC “Farmak” (Kiev) received the permission for indirect [through the company “Farmak Invest Limited” (Nicosia, Cyprus)] acquisition of shares in the authorized capital of the company “KWW Kotkowski Wierzbicki W?grzyn sp.j.”, which provides excess […]Next
Holding LVMH Moet Hennessy-Louis Vuitton (LVMH) reported that on Monday, September 28, filed a counterclaim against Tiffany in a Delaware court over a failed merger agreement between the two companies. The French holding and the American jewelry house agreed to merge in November 2019. The parties signed the agreement under which LVMH had to pay […]Next
On December, 23 this year it was a private press conference with the representatives of the Ministry of Regional Development, Construction and Housing of Ukraine. The meeting was attended by: Lev Partskhaladze (Deputy Minister of Regional Development, Construction and Housing), Oleksiy Honcharuk (head office of effective regulation – BRDO) and Olena Shuliak (Sector Manager of […]Next
The international company Strauss Group is one of the largest coffee manufacturers in the world. They put into operation a warehouse and distribution center on the street in the third quarter of 2020. It’s located on Novopyrohivska str, 56a in the Holosiivskyi district of Kyiv. “An innovative distribution center opened in Ukraine in the third […]Next
On August 3, Alphabet issued bonds worth $10 billion. This is the largest issue of debt securities in the history of the company, according to the Reuters. With $ 10 billion bond tranche allocated $ 1 billion with a maturity of 5 years and a coupon of 0.45%. The $4.5 billion tranches with maturities of […]Next
Ukrzoloto opens the jewelry store under the brand “Golden Place” in Wroclaw (Poland). “For placing the store the company chose a location in the largest shopping center in Wroclaw –“Aleja Bielany” , – says a member of the board of the “Ukrzoloto” Andrei Zhuk. Over 30 thousand jewelry brands: SoVa, Roberto Bravo, Kimberli, Golden Silver, […]Next
Ukrainian company SkyUp Airlines opens new foreign routes departing from Kyiv, Lviv and Kharkiv. On Tuesdays and Fridays flights are scheduled from Kiev to Belgrade and Stockholm, on Thursdays and Sundays in Bratislava, on Wednesdays and Sundays in Amman, on Mondays and Thursdays in Colombo, on Wednesdays and Saturdays in Dubai. From Lviv on Wednesdays […]Next
Turkey has discovered a new large natural gas field in the Black Sea with reserves of more than 135 billion cubic meters. President Recep Tayyip Erdogan announced this on Friday, June 4. “Our drilling vessel Fatih has discovered a new 135 billion cubic meter natural gas field at the Amasra-1 well in the Sakarya section […]Next
According to the source Inventure, Ukraine has attracted nearly $ 4 billion ($ 3.8 billion) of foreign investment over the past 2016. This figure exceeds the amount of 2015 almost doubly. These indicators were noted by First Vice Prime Minister of Ukraine Stepan Kubiv at the governmental seminar “The economic development of the regions: strategies […]Next
2017 was marked by many interesting and significant events for Switzerland. They relate to science, culture, and the social life of the country, and have become important and notable for both Switzerland and for Ukraine. 1. We celebrate the 25th anniversary of the establishment of Ukraine-Switzerland diplomatic relations in 2017. Both sides undoubtedly appreciate well-established […]Next
The US Federal Reserve maintained the base interest rate at 0-0.25%, as expected by the market. This is stated in the message of the financial regulator following a meeting of its leadership. “The Committee has decided to keep the target rate range for federal funds at 0-0.25% and considers it appropriate to maintain this range […]Next
German automaker Daimler AG and its US subsidiary Mercedes-Benz have agreed to pay $ 1.5 billion to the US government and California regulators as part of a friendly settlement of a dispute over the manipulation of data on the content of a harmful substances in the exhaust gases of the company’s diesel engines. This stated […]Next
The fall in gross of the domestic product of Ukraine in 2020 will amount to 6%, however, from the next year the economy will growth again: in 2021 – by 4%, in 2022-2023 – by 3% annually, such a forecast is contained in the report of the International Rating Agency Standard & Poor’s (S&P) on […]Next
Mail.ru stops to deliver a traffic in points of a traffic exchange in Ukraine. “Liga.net” published this information on its web-site. Mikhail Polovinka, UA-IX director on Ukrainian point of exchange of a traffic reported that Mail.ru had sent them the notification according to which the group of companies stopped delivery of a traffic to Ukraine […]Next
The Danish Board of Appeal for the Environment and Foodstuffs has revoked the permit issued by the Environmental Protection Agency for the construction of the Baltic Pipe gas pipeline. “On July 12, 2019, the Danish Environmental Protection Authority issued an environmental permit for the construction of the Baltic Pipe. On May 31, 2021, the Environmental […]Next
Deutsche Bank was able to resolve the conflict with the US regulator, agreeing with the charges of tax evasion and taking on the obligation to pay a fine in the amount of $ 95 million. It is reported by financial portal MinFin with reference to the foreign sources. In a statement, the bank’s press secretary […]Next