MAM
McDonald’s extends Olympic Games partnership through to 2020
MUMBAI: The International Olympic Committee (IOC) and McDonald‘s Corporation have announced that McDonald’s has extended its global sponsorship agreement until 2020.
The announcement was made at the first ever Winter Youth Olympic Games in Innsbruck, Austria, in the presence of IOC president Jacques Rogge and McDonald’s president, COO Don Thompson.
IOC president Rogge said, “We are delighted that McDonald’s, our long-time and valued Olympic Partner for more than 35 years, is continuing its ongoing commitment not only to help fund the Olympic Games but also to support the Olympic Movement around the world and ultimately the athletes themselves.”
IOC COO Don Thompson said: “We share the Olympic ideals of teamwork, excellence and being your best. Those ideals are at the heart of what McDonald’s stands for and how we’ve brought the Games to life. Feeding the athletes is a tradition we are extremely proud of, and we look forward to continuing our role in helping to make the Games possible.”
As a Top Sponsor and Official Restaurant of the Olympic Games, the agreement with the Olympic Movement includes sponsorship of the National Olympic Committees and their Olympic teams for the Sochi 2014 Olympic Winter Games, Rio 2016 Olympic Games, PyeongChang 2018 Olympic Winter Games and the 2020 Olympic Games, for which the host city has yet to be elected.
The agreement also includes the Youth Olympic Games (YOG): the current Innsbruck 2012 Winter YOG, Nanjing 2014 YOG, Lillehammer 2016 Winter YOG and the 2018 YOG and 2020 Winter YOG, for which the host cities have yet to be elected.
IOC marketing commission chairman Gerhard Heiberg said, “We are very pleased to continue our long-standing relationship with McDonald’s, and we appreciate the quality menu that McDonald’s delivers at the Olympics as the Official Restaurant of the Games. We believe that the long-term agreements we have in place with leading companies are a testament to the continued strength and appeal of the Olympic Games as a global marketing platform for sport”.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
