European regulators are close to handing down a massive tax judgement against McDonald’s, alleging the company unfairly dodged taxes in the region via its subsidiary in Luxembourg.
Bloomberg broke the news, citing people close to the situation:
“The European Commission may be moving ahead with a decision in the McDonald’s case before the EU’s summer break in August, according to the people, who asked not to be named because details of state-aid investigations are confidential. That means the ruling could arrive before another pending decision on Amazon.com’s tax deals with Luxembourg, the people said.”
Back in December, McDonald’s responded to the initial tax inquiries by moving its non-US operations from Luxembourg — long seen as a sort of tax haven for foreign entities — to the United Kingdom.
Along with the EU itself, McDonald’s faces additional tax dodging allegations from trade unions and consumer groups in Europe. Those groups say that MCD skirted some 1 billion euros in taxes between 2009 and 2013.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
NCAA Antitrust Settlement Clears First Approval Stage
May 21, 2024 by
CPI
Justice Department’s Antitrust Chief Celebrates Merger Stoppages
May 21, 2024 by
CPI
Scarlett Johansson Accuses OpenAI of Mimicking Her Voice for ChatGPT
May 21, 2024 by
CPI
Brazil’s Central Bank Announces Phased Approach to Crypto Regulation
May 21, 2024 by
CPI
Romania’s Competition Authority Approves Acquisition of Meat Product Retailers by Abatorul Peris
May 21, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI