The Independent reports that one of the biggest suppliers of equipment and testing services to the NHS pays barely any corporate tax in the UK, despite receiving hundreds of millions of pounds a year from medical sales to British clinics and hospitals. In a study of GE Healthcare’s accounts the newspaper suggests that GE has received more money back in tax benefits over the past 12 years than it has paid in, with the taxpayer appearing to be missing out on millions of pounds a year in lost revenues.
Source: GE Healthcare: US healthcare giant makes fortune from NHS but pays hardly a penny in tax | Health News | Lifestyle | The Independent
Whilst attention has in recent years been focused on high technology companies not paying adequate corporation tax, giants like GE have been at the same game for a very long time. GE is one of America’s largest corporations with a wide business portfolio.