France: McDonald's to pay out over a billion to settle tax fraud case

Fast-food giant McDonald’s is to pay €1.25 billion (roughly $1.3 billion) to the French state to avoid a legal case over tax evasion under an agreement from May that was approved on Thursday by a Paris court.

The settlement is made up of a €508 million fine and €737 million in back taxes.

“On condition of payment of the fine, the validation of the agreement means the end of the prosecution,” chief financial prosecutor Jean-Francois Bohnert said in a statement.

He said that…