Fast food giant McDonald’s to move non-US tax base to UK

McDonald’s is moving its non-US tax base to Britain from Luxembourg amid a battle with EU regulators.

The fast food giant is creating a new holding company through which it will route non-US royalties.

The announcement was welcomed by the Prime Minister’s official spokeswoman.

McDonald’s, led by Briton Steve Easterbrook, has come under fire from EU officials investigating claims that it has avoided more than €1bn (£800m) in tax through the use of a loophole in Luxembourg.

Read on.

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