G.M. dodges U.S. Taxes - China, not so much

[packman]

Last edited Fri Apr 1, 2016, 07:31 PM - Edit history (1)

"A dive into GM’s filings with the Securities & Exchange Commission reveals that while the carmaker makes nearly all of its profits in the U.S., it pays virtually no U.S. federal, state or local taxes. The carmaker paid just $5 million in federal taxes last year, its SEC filings show. For its total federal, state and local bill, all in, it booked zero taxes, the filings show. Meantime, in 2015, GM paid more than $908 million in taxes to China, due to its profits from its joint ventures there, the filings show"

http://www.foxbusiness.com/markets/2016/03/31/wheres-presidential-debate-on-gms-crony-capitalism.html

[Demonaut]

1. general electric?

[DetroitSocialist83]

2. China was smart

To keep partial ownership in ventures there. They can more easily collect the revenue they are owed.