Quote:
Originally Posted by finnbow
This is a bit misleading and has nothing to do with ongoing tax inversions. The reason they didn't pay taxes a couple of years back is that their GE Capitol subsidiary lost immense amounts of money in the real estate crash which offset the earnings in their other market segments.
|
They have been doing this for years. Google GE and pick a recent year. Here is one of the recent years, 2013.
The company with the most profits parked overseas is General Electric, according to a new Bloomberg analysis of 83 corporations.
Apple also does something similar. To a degree this is legitimate keeping their offshore operations and profits separate, but this is accounting gimmicks gone awry just to be able to report taxable income close to nothing. Small businesses do not have this advantage, so we continue to pay through our noses.
