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Benzinga
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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