France Hunts for Multinationals’ TaxesAdded: Tuesday, May 31st, 2016
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France is determined to fight against multinational companies operating on its territory to make sure they pay their taxes. The government claimed that more cases could follow after Google and McDonald’s were targeted in tax raids. The finance minister ruled out negotiating a deal with Google on back taxes, as Britain recently did.
A few days ago, dozens of French police raided Google’s Paris headquarters as part of an investigation on suspicions of tax evasion. McDonald’s French headquarters were searched on 18 May. Both of them followed the work started by tax authorities 3 to 4 years ago, when they transferred tax data to judicial authorities looking into possible crimes.
Almost any multinational company is under increasing pressure in Europe because of exploiting their international presence to minimize the tax they pay. In response, Google claimed it was fully compliant with French law; McDonald’s referred to past comments that it is one of the biggest taxpayers in the country. The rumors are that French tax authorities were seeking about €1.6bn in back taxes from Google.
Google agreed to pay £130m in back taxes to the United Kingdom a few months ago, causing criticism from opposition MPs and campaigners that it is too little. The company pays little tax in most European countries because it reports almost all sales in Ireland thanks to a loophole in international tax law.
However, the police raid was part of another investigation into aggravated tax fraud, which may make Google face either penalties of €10m or half of the value of the laundered amount. McDonald’s faced a preliminary inquiry in early 2016, following a lawsuit launched by former investigating magistrate and politician on behalf of an employee committee. According to media reports, authorities had sent McDonald’s France a €300m bill for unpaid taxes. The tax officials accused McDonald’s of using a Luxembourg-based entity to shift profits to lower-tax jurisdictions, while the French division is billed excessively for use of the company brand and other services. This practice is currently under investigation.
France recently revealed that it had received €3.3bn in back taxes and penalties from just 5 multinationals last year.
Tuesday, May 31st, 2016
|What is France going to do with that money?|
|posted by (2016-06-02 23:21:49)|
|Answer: nothing. They just want to steal as much as they can until all the corporations that compete with ones in France all leave. It's a good plan. When everything collapses over there like in Venezuela, let them eat dirt.|
|Within the bounds of the corrupt system, legal doesn't = Right, it means you are legally able to abuse the deliberately corrupt system, which these corps do with sublime abandon because they paid to create those loopholes . Would you rather they get the money from you? or do you think these massive profit making machines should get away with not paying what they really owe the corrupt system.|
At least the French have some metal, the rest just sit there whining like fish wives and just take it like trained gimps.
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