Amazon Taxes Cited as U.K.'s Antitrust Cop Targets Loopholes
- CMA chief Coscelli also highlights Starbucks tax arrangements
- Says existing laws may fail to protect fair competition
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Amazon.com Inc. and Starbucks Corp. were picked out by Britain’s top competition cop in a warning over tax structures that may help big companies thwart smaller rivals.
The pair’s ability to profit from international arrangements is the subject of debate in the U.K., Competition and Markets Authority Chief Executive Officer Andrea Coscelli said in prepared remarks for a speech in New York on Friday. Loopholes in regulation can potentially hinder the "level playing field" needed for effective competition, he said.