McDonald’s to Pay $1.3 Billion to Settle French Tax Cases (3)
By Gaspard Sebag
June 16, 2022, 1:20 PM
McDonald’s Corp. agreed to pay 1.25 billion euros ($1.3 billion) to settle probes in France where the Big Mac maker was accused of dodging taxes by unfairly shifting revenue to neighboring Luxembourg and Switzerland.
The twin settlements involve a 508 million-euro deal to end a French criminal probe into tax fraud allegations as well as the payment of an extra 737 million euros in back taxes and penalties.
Top financial prosecutor Jean-Francois Bohnert said the total amount to be paid by McDonald’s is two-and-a-half times larger than the taxes it skipped -- nearly 470 million euros.
