Supreme Court agrees to weigh fines for not reporting overseas accounts

The US Supreme Court agreed to decide how the steep penalties are for people who fail to file required reports with the federal government listing their foreign bank accounts. The justices said they will hear arguments from Alexandru Bittner, a businessman who was assessed a $2.72 million penalty for not filing timely reports for five … Read more

McDonald’s to pay $1.3B to settle French tax cases

McDonald’s Corp. agreed to pay 1.25 billion euros ($1.3 billion) to settle probes in France where the Big Mac maker was accused of dodging taxes by unirly shifting revenue tofa Luxembourg and Switzerland. The twin settlements involve a 508 million-euro deal to end a French criminal probe into tax fraud allegations as well as the … Read more

London sweet shops investigated over tax evasion and fake Wonka chocolate bars

A London council is investigating US-themed candy stores on the city’s main shopping drag for millions of pounds in tax evasion and has seized over half a million pounds in counterfeit chocolate bars and vapes. Westminster City Council said in an emailed statement Wednesday it had confiscated over ¬£100,000 ($121,000) in goods following a raid … Read more

McDonald’s moves to end twin French tax probes with settlement

McDonald’s Corp. reached twin settlements with French criminal and tax authorities that are set to be revealed as soon as Thursday as it seeks to end cases into allegations it unfairly shifted profits out of the country to avoid paying more tax, according to people familiar with the issue. McDonald’s is due to seek approval … Read more