Having paid a distressing 0.9% federal tax rate in 2014, General Electric has decided to set up its corporate headquarters on the moon, where there are no taxes at all.
Following the likes of Burger King, which moved to Canada, and Ingersoll Rand, which moved to Bermuda, GE Chief Executive Officer Jeffrey R. Immelt said he had long been looking for a place to relocate. “We looked at a lot of earth-bound countries, but they all demanded some tax. So that’s when we decided to open it up and look at other planets.”
Tax inversion is a method whereby corporations move their domicile, or home, to a country where tax rates are low, regardless of where the company’s executives or the majority of their operations are located.
“The moon is not without its drawbacks,” Immelt went on to say. “You have to fly commercial on an American or Russian rocket to get there and then be tethered whenever you go on a coffee break.”
You can buy GE related and other items from Amazon.com here: