Starbucks, under fire in UK, seeks US tax breaks
Published on Apr 25, 2013 6:02 AM
WASHINGTON (REUTERS) - Coffee chain Starbucks Corp , which has faced criticism for its low tax rate in Britain, has sought new tax breaks in the United States (US) in comments to a congressional committee.
As US lawmakers move closer to possibly overhauling the tax code for the first time since 1986, scores of companies and interest groups have submitted comments to the tax law-writing Ways and Means Committee in the US House of Representatives.
Ways and Means Chairman Dave Camp, a Republican, has vowed to introduce tax code overhaul legislation this year.
Like other companies with substantial foreign profits, Starbucks wants profits made outside US borders to be spared, in whole or in part, from the US corporate income tax.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!