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French government says McKinsey will pay all taxes it should pay

French government says McKinsey will pay all taxes it should pay

The logo of consulting firm McKinsey and Company is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau

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PARIS, April 6 (Infoday US) – McKinsey’s French arm will pay all taxes that it should pay, a spokesperson for the French government Gabriel Attal said on Wednesday, after France’s national financial prosecution office PNF launched a tax fraud probe linked to consulting firms.

The PNF on Wednesday did not specify which firms were the target of the preliminary investigation.

The use of private consultants by the government of President Emmanuel Macron, who has lost momentum in opinion polls ahead of the first round of presidential elections on Sunday, has emerged as a surprise issue in the campaign. read more

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McKinsey said in a statement on Wednesday that it would continue to respond to all questions that French authorities may have and that it respects French fiscal and social regulations.

“McKinsey’s fiscal approach is … in line with OECD directives and has been shared with the French tax administration,” the firm said.

It added that it was surprised by the focus on McKinsey’s activities, which it said represent only one percent of the French administration’s consulting spending, as mentioned in a Senate commission report.

The Senate, which is dominated by the conservatives, in March launched legal action against McKinsey, alleging that a company executive gave false testimony when he told senators McKinsey was paying corporate taxes in France.

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Reporting by Tassilo Hummel; Editing by Benoit Van Overstraeten and David Evans

Our Standards: The Thomson Infoday US Trust Principles.

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