McDonald’s pays € 1.25 billion to France to avoid trial for tax evasion
Bitter mouthful for McDonald’s. The absolute leader of fast-food has agreed to pay a whopping 1.25 billion euros in France to avoid criminal proceedings for tax evasion. The facts, according to an agreement validated by the president of the Paris Court Stephane Noelwould rise between 2009 and 2020.
The judge, in detail, validated the payment by McDonald’s of a public interest sanction of 508 million euros, in addition to the payment of 737 million euros to taxman to settle the corporation tax evaded under the procedure for tax fraud, as specified by the French newspaper “Liberation“.
The American giant led by the CEO Chris Kempczinski admitted to having transferred funds in Holland and Luxembourg for avoiding taxes on profits. After six years of investigation and, above all, to avoid a trial, McDonald’s will therefore have to pay the state a billionaire fine, as part of a pact that will be ratified today, Thursday 16 June, at court of Paris.
The deal should be detailed at a hearing in Paris again tomorrow morning. McDonald’sas reported by the Wall Street Journal, declined to comment on the indiscretion. The title now loses a Wall Street 0.4%.
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