McDonald’s (NYSE: MCD) Has “Sans Commentaires” About French Tax Probe
Author By Sophia VidaPosted on There were more than chicken McNuggets and burgers being looked at this month at McDonald’s French headquarters.
Sources familiar with the matter told Reuters on Thursday that McDonald’s French headquarters had been searched by investigators on May 18th. The search targeted the fast food chain giant in a tax probe with many documents seized during the raid.
French business magazine L’Expansion reported in April that authorities had sent McDonald’s France a $336 million bill for unpaid taxes on profits believed to have been funneled through Switzerland and Luxembourg.
Tax officials had accused the chain of using a Luxembourg-based entity, McD Europe Franchising, to shift profits to lower-tax jurisdictions by billing the French division excessively for use of the company brand and other services.
The source confirmed the investigation was looking into this. McDonald’s, who has commented before on being one of the biggest tax payers in France, declined to comment regarding the search.
Disclaimer: We have no position in McDonald’s (NYSE: MCD) and have not been compensated for this article.
 Has “Sans Commentaires” About French Tax Probe){kind=link}