GE says we all got its tax wrong.
As they say:
GE pays what it owes under the law and is scrupulous about its compliance with tax obligations in all jurisdictions
No one ever said otherwise. We said you lobby to change those obligations.
And they say:
The Times erroneously suggests GE makes use of tax “loopholes” or “innovative accounting.” Our accounting and tax positions fully comply with all applicable rules and regulations and are based on sound public policy.
Again, no one ever said otherwise.
We just said you spend a lot of money make sure sound public policy accords with GE’s view of what sound public policy should be.
And we questioned the ethics of that.
And the fact it meant you paid no tax in the US in 2010.
And the article utterly fails to address those lobbying issues.