business efficient articles new efficient business opportunities finance efficient deposit money efficient making art loan efficient deposits make efficient your home good income efficient outcome issue medicine efficient drugs marken efficient money trends self efficient roof repairing market efficient online secure efficient skin tools wedding efficient jewellery newspaper efficient for magazine geo efficient places business efficient design Car efficient and Jips production efficient business ladies efficient cosmetics sector sport efficient and fat burn vat efficient insurance price fitness efficient program furniture efficient at home which efficient insurance firms new efficient devoloping technology healthy efficient nutrition dress efficient up company efficient income insurance efficient and life dream efficient home create efficient new business individual efficient loan form cooking efficient ingredients which efficient firms is good choosing efficient most efficient business comment efficient on goods technology efficient business secret efficient of business company efficient redirects credits efficient in business guide efficient for business cheap efficient insurance tips selling efficient abroad protein efficient diets improve efficient your home security efficient importance

Golden Dodges report uncovers McDonald's global tax scam

18 May 2015 News
Printer-friendly version

GoldenDodgesGolden Dodges, a new report from the IUF, Public Services International (PSI) and the North American Service Employees International Union (SEIU), reveals how McDonald's, the world's largest fast food company as well as the largest franchiser, has methodically exploited the tax system to avoid billions in taxes. The report details McDonald's use of the franchise system to funnel low tax royalty payments to a network of hidden subsidiaries in offshore tax havens. Routing cash to 42 branches and subsidiaries in tax havens (far more than the 11 McDo publicly disclosed last year) allowed the company to avoid paying USD $1.8 Billion in tax between 2009 and 2013, including EUR 1 billion in Europe and AUD 497 million in Australia. During these years, the Luxembourg-based operation, which employs 13 people, recorded revenue of €3.7 billion, on which it reported paying a mere €16 million in tax.    

IUF general secretary Ron Oswald condemned McDonald's, which last year booked USD 87.8 billion in system-wide sales, for gaming the system to save billions in taxes while cynically insisting that low wages were the key to competitiveness. The report urges governments to devote the necessary resources to further investigate McDonald's tax practices.

Click here to download the report.