Muddy
04-13-2011, 02:51 PM
Facing criticism over the amount of taxes it pays, General Electric announced it will repay its entire $3.2 billion tax refund to the US Treasury on April 18.
http://lolfed.com/wp-content/uploads/ge-imagination-at-work.jpg
GE uses a series of foreign tax havens that the company says are legal and that led to an enormous refund for the 2010 tax year.
The company earned $11 billion in 2010 on revenue of $150 billion.
The company, based in Fairfield, Conn., plans to phase out tax havens over 5 years and said it will create one job in the US for each new job it creates overseas.
http://www.wric.com/Global/story.asp?S=14437618
http://lolfed.com/wp-content/uploads/ge-imagination-at-work.jpg
GE uses a series of foreign tax havens that the company says are legal and that led to an enormous refund for the 2010 tax year.
The company earned $11 billion in 2010 on revenue of $150 billion.
The company, based in Fairfield, Conn., plans to phase out tax havens over 5 years and said it will create one job in the US for each new job it creates overseas.
http://www.wric.com/Global/story.asp?S=14437618