Starbucks bows to pressure on UK tax

Coffee chain Starbucks said it could pay about 20 million pounds in corporation tax in Britain over the next two years, surrendering to widespread public criticism over allegations of tax avoidance.

“We are making a commitment that we will propose to pay a significant amount of corporation tax during 2013 and 2014 regardless of whether our company is profitable during these years,” Starbucks UK managing director Kris Engskov said in a speech.

via Business feed http://www.scmp.com/business/companies/article/1099800/starbucks-bows-pressure-uk-tax