The UK tax authority has accused General Electric of fraud in a $1bn dispute over tax deductions claimed by the industrial conglomerate going back 16 years.
HM Revenue & Customs launched a claim against GE in 2018 arguing interest deductions claimed between 2004 and 2015 by six of its group companies, including financial services unit GE Capital were not correct.
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All governments do stuff like this when revenues are down. They’ll be going after big Tech next...that’s where all the money is (Google, Apple, etc).
Is anyone really surprised. And, oh wait, there'll be more!
https://www.super155.com/uk-tax-authority-accuses-general-electric-of-fraud-in-1bn-dispute/.html
https://www.ft.com/content/9d27f726-4384-4ad2-a945-f3f840bf5c56
The sharks all come out when there’s blood into water!!!