I was reading an article discussing GE making 14 Billion profits, filing a tax return for 5 billion USA profits, and claiming 3 billion in tax credits.
The tax form filed – 57,000pages. Now thats a lot of jobs on both ends – The company and the department of treasury.
Well it seems that treasury department thought GE did a good job and gave them 3.2 billion.
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FYI – Profits made outside the United States don’t require tax until brought back into the United States.
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Questions.
What happens if the US government changes rules on taxation of foreign profits?
Do USA Companies leave the United States?
Do USA Companies return production to the United States, creating US Jobs and building treasury?
Where do allowance take place and how do global government taxation laws avoid companies from being taxed multiple times?
