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Accountancy or taxation professionals are recognised around the world as respected leaders in accountancy, taxation, finance and business. From providing strategic business advice to audited financial statements or driving mergers and acquisitions, a career as an Accountancy or taxation professional can be diverse and challenging; it’s not just about putting numbers into a spreadsheet. Accountancy or taxation professionals use technical knowledge, skills and experience to lead organisations and people to make responsible and sustainable financial decisions. They are required to act in the public interest and must therefore maintain the highest standards of professional conduct and competency; upholding ethical behaviour and integrity at all times.

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if you have any queries drop me a line

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Tax treaties and related documents between the UK and USA.

The double taxation convention entered into force on 31 March 2003 and was amended by signed protocol on 19 July 2002.

It is effective in the:

USA from:

1 May 2003 for taxes with held at source

1 January 2004 for all other US taxes

UK from:

1 April 2003 for Corporation Tax

6 April 2003 for Income Tax and Capital Gains Tax

1 May 2003 for taxes withheld at source

1 January 2004 for Petroleum Revenue Tax

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Tax treaties and related documents between the UK and USA.

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Strategic International Tax Compliance Framework

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The Power of Good Governance: Transforming Societies

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Starbucks paid a "derisorily low" £7.2m in UK corporation tax last year despite making a gross profit of £149m on sales of £548m in Britain.

Its UK division, which has faced years of criticism for paying very little to the Treasury, paid £40.4m in royalty and licensing payments to a parent company, more than five times the amount it paid in tax to HM Revenue and Customs.

That company, Starbucks EMEA, collects royalty payments from the UK and 42 countries across Europe, the Middle East and Africa. Starbucks EMEA paid a $325m (£257m) dividend to the coffee chain's parent company in Seattle, according to accounts filed at Companies House on Friday. That helped Starbucks HQ make a global profit of $5.8bn.

Howard Schultz, Starbucks's billionaire former long-term chief executive, owns just under 2% of the company's shares - worth just over $2bn.

In 2012, it was revealed that Starbucks had paid just £8.6m in taxes on £3bn in UK sales since 1998, when it launched its first coffee shop in the country.

In the year to October 2023, the UK division collected sales of £548m from 1,168 coffee shops in the UK, up from £449m the previous year. It opened 102 new stores over the year. Starbucks employs 5,682 people in the UK, up from 5,177 a year earlier.

Starbucks Coffee Company (UK) made a £149m "gross profit" in the year to October 2023, up from £129m the year before. But after "administrative expenses" of £127m, its pre-tax profits were reduced to £16.9m, on which it paid £7.2m tax. The previous year it made a pre-tax profit of £10.4m and paid £4.5m in tax.

Claire Ralph, the director of Taxwatch, a thinktank that investigates tax compliance, said: "The UK corporation tax Starbucks paid is derisorily low - depressed by continued high royalty and licensing payments to offshore owners - our tax regime is failing to secure a fair share of the profits generated from the British market."

Starbucks EMEA paid $36.4m in tax on pre-tax profits of $141m while paying the $325m dividend to its Seattle parent. The EMEA division collected royalty and licence fee income of $407m in the year to October 2023. Starbucks EMEA has built up shareholder funds to more than $1.3tn.

Paul Monaghan, the chief executive of tax transparency campaign group Fair Tax Foundation, said: "Starbucks' main UK retail subsidiary maintained its tradition of paying small amounts of corporation tax in the UK, and this was once again down to the payment of hefty royalty and licensing fees to entities further up the corporate group.

"In fact, these intra-company charges have more than doubled in recent years and serve to exert a strong downward pressure on the tax paid by the coffee shop chain in the UK.

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"Starbucks' other UK subsidiary, which collects the royalty payments from across Europe, the Middle East and Africa is paying substantially more tax than in previous years - but there is no way of telling whether this is at fair levels as they still refuse to provide a breakdown of income, profits and taxes on a country-by-country basis."

The company did not respond to a request for comment on the low taxes paid compared with gross profits, or the reason for the large royalty payments. However, a spokesperson pointed to a line in the company's accounts that said: "Starbucks UK Coffee Company paid a UK corporation tax charge of £7.2m (up from £4.6m in 2022) based on a profit before tax of £16.9m. This represents an effective tax rate of 42.4%."

Duncan Moir, the president of Starbucks EMEA, said: "We are immensely proud to have celebrated our 25th anniversary in the UK and EMEA this year. We are pleased to report another strong year of revenue growth, owing in large part to the dedication, hard work and relentless pursuit of excellence that our brilliant team of partners continue to deliver."

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Starbucks paid £7.2m in UK corporation tax despite gross profit of £149m

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'Derisorily low' tax bill again down to high royalty and licensing payments to parent company, say campaigners

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The most recent versions of all issued IFRS Standards, including Standards that come into force in the future, but not Standards that have been superseded or replaced.

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The most recent versions of all issued IFRS Standards, including Standards that come into force in the future, but not Standards that have been superseded or replaced. Visit our shop

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Direct Tax vs Indirect Tax | Simple Explanation with Examples

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After class review and reflect

write up notes

do further reading and question practice

have another go at the quiz questions

if you have any queries drop me a line

Think about both the theory's adv/disadv and when it would be used

# data[].attributes.body
After class review and reflect

write up notes

do further reading and question practice

have another go at the quiz questions

if you have any queries drop me a line

Think about both the theory's adv/disadv and when it would be used

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The Labour ‘PM-in-waiting’ has said Britain undertaxes wealth and overtaxes income

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INTM412040 - Transfer pricing: legislation: rules: the arm’s length principle - HMRC internal manual - GOV.UK

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OECD member countries have agreed that to achieve a fair division of taxing profits and to address international double taxation, transactions between connected parties should be treated for tax purposes by reference to the amount of profit that would have arisen if the same transactions had been executed by unconnected parties. This is the arm’s length principle.

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