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French prosecutor proposes McDonald’s pay 1.245 billion euros to settle tax dispute
2022.06.16 12:37
FILE PHOTO: The logo of a McDonald’s restaurant is seen in Bordeaux, France, June 18, 2018. REUTERS/Regis Duvignau/File Photo
PARIS (Reuters) – A French public prosecutor recommended that McDonald’s (NYSE:MCD) pay around 1.245 billion euros ($1.29 billion) in fines and back taxes to settle a tax dispute in France, a court heard on Thursday.
The case centers on allegations, which first surfaced in 2014, that the giant U.S. burger chain diverted profits made in France to Luxembourg to pay lower taxes.
The company’s lawyers said they agreed with the proposed settlement.
