EU opens McDonald's tax probe

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By Euronews
EU opens McDonald's tax probe

The European Commission has opened an investigation into the tax affairs of fast food giant McDonald’s.

EU competition officials will look at the US firm’s tax dealings in Luxembourg.

It follows similar probes into agreements sealed by Starbucks and Amazon.

The EU executive says deals between McDonald’s and the government of Luxembourg struck in 2009.

They meant the food chain paid no corporation tax in Luxembourg or in the United States on royalties paid by franchise holders in Europe and Russia.

The company denies any wrongdoing, saying it complied with all EU tax rules.

Luxembourg’s finance ministry also denies having granted the company any special treatment.