McDonald's: $ 1.3B agreement with the French tax authorities
To settle a tax dispute and avoid a lengthy trial
McDonald's agreed to pay around $ 1.3 billion in fines and back taxes to settle a tax dispute in France and avoid a lengthy trial. The details of the deal will be discussed in a court hearing, the Wall Street Journal reported.
The tax dispute dates back to 2014, when tax officials began investigating the hypothesis that McDonald's was diverting taxes paid by its franchise restaurants to other countries in a tax avoidance regime. McDonald's has an established presence in France, with around 1,500 restaurants, most of which are operated under license.
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