Alexander Lebedev urges US taxman to look at GE
Wednesday 31 July 2013
A striking theme of the court case was the length to which GE goes to avoid paying US taxes. Although based firmly in the US, Gecas and PK were were technically established in low-tax Shannon in Ireland and Luxembourg.
Gecas executive Virginia Fox admitted during the case that the company had to be careful to give the impression that its European divisions called the shots. Alexander Lebedev said: “The extraordinary revelations of the mechanisms employed by GE to avoid paying US corporation tax are truly shocking, and I hope that the US tax authorities at the IRS will take notice of this.” GE says it pays all due taxes in the countries where it operates.
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