French cosmetics giant L'Oreal in 320m-euro tax readjustment

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French cosmetics group L'Oreal announced on Friday it had reached a settlement with France's tax authorities to pay around 320 million euros in a correction of tax returns made by three of its subsidiaries between 2014 and 2018.

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Cosmetics maker L’Oreal said on Friday it had reached a settlement with French tax authorities regarding three of its subsidiaries, including one linked to its luxury Lancôme brand, resulting in a charge of around 320 million euros, reports Reuters.