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French authorities raid General Electric’s facility as part of tax fraud investigation

In an investigation into charges that it avoided paying millions of euros in taxes by shifting profits abroad, prosecutors on Thursday investigated the industrial complex in eastern France owned by American giant General Electric Co., according to AFP.

 

The article stated that the tax investigation was begun as a result of Fabien Roussel, the leader of the French Communist Party, informing authorities of his ‘suspicions of tax optimisation and fraud’ by the corporation in July 2019.

 

Reuters’ requests for comments from GE and the National Financial Prosecutors’ Office of France were not immediately fulfilled.

 

As GE lost hundreds of French positions due to weak demand for gas turbines and other power-generation equipment, tensions between unions and management have risen, according to the study.

 

General Electric revealed plans to slash expenses by approximately 1,000 employees in France, primarily at its factory in Belfort, in 2019.

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