McDonald’s to pay France $1.3 billion in tax fraud case | #phishing | #scams | #cybersecurity | #infosecurity | #hacker



PARIS (AP) — McDonald’s France and related companies have agreed to pay over 1.2 billion euros ($1.3 billion) to the French state to settle a case in which the fast-food giant was accused of years of tax evasion.

A Paris court approved the settlement Thursday, the French national financial prosecutor’s office said. McDonald’s said the settlement was the result of “productive discussions” with French tax authorities.

The decision means a tax fraud investigation targeting the company, opened after a legal complaint by unions in 2016, will be closed.

The prosecutor’s office said McDonald’s France, McDonald’s System of France, MCD Luxembourg Real Estate and other related companies agreed to pay a total of 1.24 billion euros ($1.29 billion) in fines, penalties and back taxes to settle the case after years of negotiations.

The company was accused of hiding French profits in lower-tax Luxembourg from 2009-2020, and reporting artificially low profits in France.

McDonald’s Corp. said in a statement that it had already paid 2.2 billion euros in taxes over that period. It did not comment on the accusations.

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