McDonald's faces EU probe over '€1bn tax avoidance'
May 6 , 2015
McDonald’s is facing a potential tax probe by the European Commission.
Margrethe Vestager, the EU competition commissioner, said that she is looking into allegations leveled by trade unions that the US fast food chain avoided payments of over €1 billion in corporate taxes from 2009 to 2013.
The firm diverted around €4 billion of revenues to a Luxembourg subsidiary that was staffed by only 13 people, according to the claims.
McDonald’s has refuted the allegations.
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