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GE junks talk that US, UK tax liabilities may cost it billions of dollars

GE likely owed up to $9 billion in taxes under the 2017 corporate tax cuts


General Electric Co on Monday downplayed concerns that its US tax liabilities could increase by billions of dollars and that a decision by British tax authorities could saddle the company with an additional $1 billion tax bill. "Based on current law and guidance, we believe our current accrual is a reasonable estimate for the enactment of tax reform," Todd Ernst, GE's vice president of investor communications, said in an unusually detailed email to investors on Monday, referring to the U.S. Tax Cuts and Jobs Act of 2017, the bill passed by Congress that significantly ...

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First Published: Tue, November 06 2018. 03:39 IST