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Starbucks executive says firm 'not avoiding tax'

12 November 2012 Last updated at 18:01 GMT

Starbucks' chief financial officer Troy Alstead has told a committee of UK MPs that the firm does not avoid tax.

He was one of several executives from some of the world's most-recognised firms being grilled by the Public Accounts Committee on the issue of tax avoidance.

A four-month investigation by news agency Reuters revealed that Starbucks reportedly paid just £8.6m in corporation tax in the UK over 14 years - including reporting accounting losses when it was profitable.