McDonald’s bows to online campaign and turns down Olympic tax break
McDonald’s has revealed that it won’t be taking its Olympic tax break, and has said the costs for doing so will be ‘minimal’.
Under Olympic rules, partner organisations can pay no tax on any earnings from the Games.
The fast food restaurant, which revealed a lot of negative press following ‘chipgate’- when it was revealed the only chips available in Olympic venues will be McDonald’s fries, or those served with fish – bowed to pressure from online campaign group 38 Degrees whose petition has gathered more than 160,000 signatures.
Saying in a statement: "We will not be making any corporate income tax exemption claim with respect to any activity concerning our involvement with the London Olympic and Paralympic Games", McDonald’s added that less than 0.1 per cent of its annual sales will come from the Olympics.