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About In House Tax

About In House Tax

This weblog is a news and views site for tax professionals within the UK and international in-house tax community.  You will find information about appointments and people moves in and around the in-house tax market, issues affecting the in-house tax professional, opinions on the state of the tax job market, updates on tax technology, and other general thoughts of the day.

Hope you find it useful.

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Location: St Albans, United Kingdom

This site has been developed by Simon Godley, who also runs the niche tax recruitment company Talentpool Selection . Simon spends a lot of his time placing tax specialists into FTSE companies, large in-bound groups and some professional services organisations. He also recruits and is well networked around the UK tax technology and VAT markets.

Tax News

GM announces tax charge

Wednesday, 7 November 2007

Source: Penny Sukhraj, Accountancy Age

General Motors has announced a $39bn charge in its third quarter results to remove net deferred tax assets from its books.

The Detroit-based company said that the charge, which affects the automaker's businesses in the US, Germany and Canada, would not impact operations or restructuring.

The hit on the books is the largest at GM so far, which has encountered a string of accounting irregularities since 2005.

GM's third quarter results, which are set to be reported today, are likely to show significant red ink, the New York Times reported.

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posted by Simon Godley


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