McDonald's Accused Of Dodging $1.13 Billion In European Taxes

MarketWatch Pulse

McDonald's Corp. has deliberately avoided paying about 1 billion euros ($1.13 billion) in European tax by diverting revenue via a Luxembourg-based subsidiary, labor unions and a campaigning charity said Tuesday. Over five years from 2009 to 2013, the fast-food giant paid €16 million in tax, on cumulative revenue of €3.7 billion from restaurants in major markets such as France and Germany, they said in their report "Unhappy Meal". "We call on the European Commission and respective national tax authorities, as well as the European Parliament's newly formed Special Committee on Tax Ruling, to look closely into McDonald's tax practices and take appropriate measures," the U.S. and European unions, and campaign group War on Want, said in a statement.

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