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Benzinga

Politics

Shivani Kumaresan

McDonald's Settles French Tax Case For $1.3B: WSJ

MCD McDonald France NYSE Wall Street Journal Wikimedia Commons Paris

McDonald's Corp (NYSE:MCD) has agreed to settle a tax dispute in France by paying about $1.3 billion in fines and back taxes, the Wall Street Journal reported.
The fast-food giant has been facing a probe in France over the proper declaration of all its activities.
The deal's details are expected to be disclosed at a court hearing in Paris on Thursday.
The tax case is more than five years old, when in 2014, officials doubted whether McDonald's was redirecting fees paid by its franchise restaurants to units in other countries.
Price Action: MCD shares are trading lower by 0.45% at $237.69 on the last check Wednesday.
Photo Via Wikimedia Commons

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