BUSINESS

Pressure Mounting On eBay, Ikea After Tax Revelations

10/22/2012 08:33 am 08:33:27

Pressure is mounting on large multinational companies to pay their fair share of tax following new revelations about the amount of tax paid by eBay and Ikea.

The focus on the tax affairs of the internet auction house and the Swedish retailer comes amid increasing anger about Starbucks, which Reuters exposed last week as not having paid corporation tax in the UK for the past three years. The Liberal Democrat peer Lord Oakeshott called for the chief executive of the US coffee company to appear before a parliamentary committee after notching up £1.2bn of sales in the UK. "[Chief executive Howard] Schultz must come to parliament and come clean on why they pay so little corporation tax," said Oakeshott.

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