TELETRADER News
6/16/2022, 11:47 AM
(Source: TeleTrader)
McDonald's-0.61%
McDonald's to pay €1.25B to settle charges in France
McDonald's Corp. will pay €1.25 billion to avoid charges for tax evasion in France, a court filing showed on Thursday. An investigation into the fast-food giant's practices was opened in 2016, when it was found it redirected some of its revenue to Luxembourg.
The company agreed to pay a public interest fine of €508 million as well as €737 million in unpaid taxes. According to French media, it is the largest tax-related fine in the country's history, after Google's 2019 record of €965 million.