6/16/2022, 11:47 AM (Source: TeleTrader)
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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.

Baha Breaking News (BBN) / DJ