• McDonald’s Corp 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

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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