.McDonalds will pay the equivalent of over $1 billion in fines and back taxes to French authorities, bringing an end to a yearslong dispute over alleged tax evasion.
The fast-food giant will pay 508 million euros, or the equivalent of $532 million in the United States, in fines and 737 million euros in back taxes as part of a settlement approved by a Paris court on Thursday, making the $1.25 billion settlement the second largest in French history, according to France 24.
McDonald's argued the settlement was not an admission of guilt. The company instead insisted it had paid more than 2.2. billion euros in corporate income tax in France for the period in question and created nearly 25,000 new jobs in the country, according to a statement obtained by the outlet.McDonald's France is"working proactively with French tax authorities to agree the current and future level of brand and know-how fees," the company said.
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