Posts tagged ‘$3.2 billion’

April 13, 2011

GE Rebuffs Tax Refund Report as ‘Hoax’

General Electric called an earlier media report Wednesday that it would repay a $3.2 billion tax refund to the Treasury Department a “hoax.”

Members of an activist group calling themselves the “Yes Men” claimed responsibility for the hoax, according to a report from Reuters.

Earlier Wednesday morning, the Associated Press reported that the U.S. conglomerate—using “a series of foreign tax havens”—would repay the “enormous” refund it received for the 2010 tax year.



April 13, 2011

GE to return $3.2 billion to US Treasury

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.

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.



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