Starbucks promises to pay more U.K. tax
Starbucks has bowed to mounting pressure over its tax affairs in Britain, with plans to pay about $16 million in each of the next two years.
Having been slammed by the country’s lawmakers for “immorally” avoiding tax, Starbucks’ U.K. managing director Kris Engskov said the firm had agreed to pay more than required by law.
The Seattle-based coffee company has 700 British outlets, but has paid just $13.8 million in corporate tax in 14 years. Starbucks says it is due to a process involving paying royalties to its European headquarters in the Netherlands.
The company hasn’t done anything illegal. Firms operating in Europe can base themselves in any of the 27 European Union nations, allowing them to take advantage of a country’s low tax rates.
By Shonda Novak
Ten years after opening, Jorge’s restaurant on Hancock Drive will shut its doors Dec. 22.
But the name and its TexMex fare will live on in two new concepts that Jorge’s owner Diana Veloz is planning.
In addition, the new owners of the Jorge’s site — who include Chuy’s co-founder Mike Young — said another Tex-Mex restaurant will open in its place that will retain an Austin flavor and blend with the neighborhood.
Veloz recently sold the 9,000-square-foot Hancock location off Burnet Road for an undisclosed price to a group of five investors who besides Young include Will Muntz, co-owner of Lucky Lounge downtown. Muntz will partner with John Korioth, who owns Hanger Lounge and Six Lounge, in the new restaurant, La Mancha Tex-Mex Tavern, which will debut in the spring, Muntz said.
Muntz said the building will undergo an extensive remodel, with design work by noted architect Michael Hsu, whose offices are within walking distance from Jorge’s. Muntz lives two blocks from Jorge’s, and Korioth grew up in the neighborhood.
“It’s a great neighborhood, it’s a great property, and we wanted to keep it Austintatious,” Muntz said. “Jorge’s has been Austintatious, and we love that about Jorge’s. We want to support the neighborhood with another great TexMex restaurant.”
Veloz, meanwhile, will carry on the Jorge’s tradition as she teams with two of her longtime employees to start the new concepts. One will be a couple of small restaurants, Jorgitos, that would serve burritos and tacos and have a full bar, to keep Jorge’s loyal cantina following happy. The other will be several smallscale, higher-end Jorge’s restaurants that will serve a more specialized menu with Veloz’s recipes, with an even greater