McDonald’s accused of €1bn tax evasion
‘Fast-food chain McDonald’s has been accused of avoiding over €1 billion in European corporate taxes between 2009-2013. A report by a coalition of European and American trade unions has revealed the company’s alleged tax avoidance strategy.
McDonalds paid a total of €16 million in tax on royalties of €3.7 billion for a period of 5 years (2009-2013), according to a report from the charity group War on Want.
The company’s tax structure allowed McDonald’s to draw revenue away from Europe and its major markets, the report says. McDonald’s was routing revenues through a Luxembourg based subsidiary; it also moved the company’s European headquarters from the UK to Switzerland.’
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