McDonald’s on the hook for as much as $500m in back tax

McDonald’s is the latest multinational firm to fall foul of the European Commission with reports that the burger chain is on the hook for $500m in back taxes to Luxembourg.
The fast food chain is accused of engaging in state-backed tax avoidance just weeks after Apple was ordered to pay a mammoth €13 billion tax bill in Ireland.
Investigators found that McDonald’s paid an average tax of just 1.49 per cent on profits of $1.8bn earned by its European HQ in Luxembourg after strikin