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Coca-Cola (KO -0.8%) and McDonald's (MCD +0.2%) say they will waive their right to tax-free...

Coca-Cola (KO -0.8%) and McDonald's (MCD +0.2%) say they will waive their right to tax-free earnings at the Olympic Games in London after groups in the U.K. protested vigorously. Though the change will have a very minor impact on earnings, it follows a trend for both companies of seeing their involvement in the games come under assault after spending a pretty penny for the right to be sponsors. (Previous: Olympic sponsors under fire for obesity complaints)
Comments (4)
  • Sam Liu
    , contributor
    Comments (3864) | Send Message
     
    Either this is horribly wrong or awfully right!

     

    There must be a (tax) deduction for this! ...
    18 Jul 2012, 01:15 PM Reply Like
  • TwistTie
    , contributor
    Comments (2477) | Send Message
     
    Do any of the protestors need a job?
    18 Jul 2012, 01:19 PM Reply Like
  • hwood007
    , contributor
    Comments (1207) | Send Message
     
    I think both firms should have disclosed just how much they invested in sponsor funds and costs of physical building and did a little pushing back
    18 Jul 2012, 01:34 PM Reply Like
  • Veritas1010
    , contributor
    Comments (1312) | Send Message
     
    There comes a point where political correctness devolves into self-imposed tyranny.

     

    Corporations have a duty and a right to make profits legally. Isn't this tough enough to do this in Europe already? Companies the size of Coke and McDonald's should not be targets for the radical fringe who see everything dour in a legal tax loophole as they themselves probably cut every corner possible on their VAT expenditures and personal taxes.

     

    Ignorant duplicities..."I'm lovin' it!"

     

    dis. long KO, but that doesn't matter.
    18 Jul 2012, 05:02 PM Reply Like
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