McDonald’s French HQ raided in tax probe

McDonald's

McDonald’s

French police said Thursday they had raided the French headquarters of McDonald’s last week as part of a tax fraud probe.

Agents of a special corruption, financial and tax crime unit searched the premises west of Paris on May 18, seizing documents, a police source said.

French authorities suspect McDonald’s has been illegally lowering its tax bill by channelling French earnings to Luxembourg, where its European headquarters is based, and where corporate taxes are much lower.

French business monthly magazine L’Expansion reported in April that the French Finance Ministry had sent the US fast-food giant a bill for 300 million euros for unpaid taxes at the end of 2015 as part of the investigation that dates back to 2013.

On Tuesday, French police also raided the Paris headquarters of internet giant Google as part of a similar probe over tax payments.