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Home / US / FedEx CEO calls on New York Times editor for public debate on tax return

FedEx CEO calls on New York Times editor for public debate on tax return



FedEx boss Frederick Smith challenged the New York Times editor and the newspaper's business editor for public debate after the Times reported that the company had paid $ 0 in federal taxes in 2018.

A Sunday statement Smith argued that The Times' previously published report was "distorted and factually incorrect" and ignored the "$ 6 billion capital" that FedEx allegedly "invested in the US economy" in 2018.

"I hereby request the AG Sulzberger, publisher of the New York Times and editor of the Public Debate Economic Section in Washington, DC, with me and the FedEx Vice President for Taxes," Smith wrote.

"Crucial to this outrageous distortion of the truth is the fact that the New York Times, unlike FedEx, paid no income tax in 201

7, with a profit of $ 111 million and only $ 30 million in 2018 – 18% of their pre-tax income is $ 57 million, which is a rounding error compared to $ 6 billion that FedEx invested in the US economy in the same year, "he argued in the press release.

The Times reported on Sunday that FedEx was financially responsible According to reports, the company did not owe any taxes in the 2018 financial year. According to the report, the company has so far saved $ 1.6 billion under the GOP tax reform plan, which was adopted at the end of 2017.

"FedEx invested billions in capital items eligible for accelerated depreciation and high contributions to our employee retirement plans," the Times newspaper said in response to this story. "These factors temporarily lowered our federal income tax, which was the intention of the law to increase GDP, create jobs and raise wages."

The New York Times did not immediately respond to a request for comment on the FedEx statement.


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