Saturday, July 16, 2016

While GE Pays Its Interns UNlike Ban's UN, Inner City Press Asks It Of Tax Avoidance

By Matthew Russell Lee
UNITED NATIONS, July 15 -- When the International Labor Organization held a press conference in the UN on July 15 with General Electric, it was noteworthy that GE's internships will be paid, unlike at the UN. 
But what about GE's reported tax avoidance, in light of the Sustainable Development Goals? Video here.
   Both ILO and GE's Beth Comstock, Vice Chair for Innovations, answered the easier internship questions; on tax avoidance, Inner City Press was told it would get an answer later to this: 
"'General Electric, which Oxfam said has received $28bn in taxpayer backing, was second with $119bn stored in 118 tax haven subsidiaries.' What's GE's response? Does it context the dollar volume, the number of subsidiaries, the amount of subsidy?”

After several inquiries this, from a GE spokesperson:
“GE is one of the largest taxpayers in the world, paying billions in taxes every year, including tax payments in the U.S. GE has reinvested in its operations- like factories and R&D centers- in 180 countries, which helps us win business.”
   We may have more on this.