Global Minimum Tax Deal Makes GE Aerospace Pay More to Singapore -- WSJ

Dow Jones01-30

By Richard Rubin

The new global minimum corporate tax took a bite out of GE Aerospace's bottom line last year and prompted the company to pay more taxes in Singapore.

Key pieces of the agreement among 140 countries took effect in 2025. Implementation has been bumpy, and the U.S. recently won changes to make the rules softer on American companies. But the taxes are real, and they are showing up in corporate annual filings now.

GE Aerospace was hit by Singapore's adoption of a 15% minimum tax as part of the deal. In 2024 and 2023, the company reported a $136 million benefit each year because of a special negotiated tax rate.

Last year, however, because of the global agreement, that benefit was $121 million smaller than it otherwise would have been, according to the company's filing. On a cash basis, the company paid more to Singapore last year than to any other country. A GE Aerospace spokeswoman declined to comment.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

January 29, 2026 16:59 ET (21:59 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Implementation has been bumpy, and the U.S. recently won changes to make the rules softer on American companies. But the taxes are real, and they are showing up in corporate annual filings now. \n</p>\n<p>\n     GE Aerospace was hit by Singapore's adoption of a 15% minimum tax as part of the deal. In 2024 and 2023, the company reported a $136 million benefit each year because of a special negotiated tax rate. \n</p>\n<p>\n     Last year, however, because of the global agreement, that benefit was $121 million smaller than it otherwise would have been, according to the company's filing. On a cash basis, the company paid more to Singapore last year than to any other country. A GE Aerospace spokeswoman declined to comment. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. 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Implementation has been bumpy, and the U.S. recently won changes to make the rules softer on American companies. But the taxes are real, and they are showing up in corporate annual filings now. \n\n\n     GE Aerospace was hit by Singapore's adoption of a 15% minimum tax as part of the deal. In 2024 and 2023, the company reported a $136 million benefit each year because of a special negotiated tax rate. \n\n\n     Last year, however, because of the global agreement, that benefit was $121 million smaller than it otherwise would have been, according to the company's filing. On a cash basis, the company paid more to Singapore last year than to any other country. A GE Aerospace spokeswoman declined to comment. \n\n\n       This item is part of a Wall Street Journal live coverage event. 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