Olympic Sponsors McDonald’s & Coca-Cola Assure Everyone They Won’t Cash In With Tax Exemptions

 

Olympic Sponsors McDonald’s & Coca-Cola Assure Everyone They Won’t Cash In With Tax Exemptions

 

While plenty of people were getting bees in their bonnets over U.S. companies McDonald’s and Coca-Cola taking advantage of UK tax exemptions offered to sponsors of the London Olympic games, both corporations have said they’ll waive their rights to any such exemptions on their earnings.

A lobbying group had gathered almost 165,000 in an online petition urging sponsors of the games to turn down tax breaks, reports Reuters. That group, 38 Degrees, claimed victory today by posting “Two down!” after Mickey D’s and Coke confirmed they wouldn’t take part in the exemption.

But McDonald’s and Coca-Cola are all like, “Shrug, whatevs,” as both claim they’d never planned on using the exemption anyway, and that the campaign had nothing to do with that.

“Coca-Cola has never intended to, and will not be making, any corporate or income tax exemption claim with respect to any activity concerning our involvement with the London 2012 Olympic and Paralympic Games,” the company said in a statement, while McDonald’s also said the decision pre-dated the protest.

Previously: Apparently What The 2012 Olympic Games Needs Is The World’s Largest McDonald’s 

Olympics-Coke, McDonald’s waive UK tax exemption [Reuters]

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