Today, PwC announced an innovative agreement with GE to provide integrated, enterprise managed tax services to GE on a global basis.
As part of this agreement, PwC will hire more than 600 of GE’s highly regarded tax team members from around the world and acquire GE’s tax technologies to further both PwC’s focus on the Tax Function of The Future and the provision of global enterprise tax solutions to the marketplace.
PwC has the largest tax practice in the US and the world with a global network of 41,000 tax professionals operating in 157 countries. Leveraging the proven experience and expertise of the GE team, PwC believes it has identified an opportunity that recognizes the future needs of a rapidly changing marketplace.
“The caliber of talent joining our firm from GE is remarkable,” said PwC Vice Chairman and Managing Partner Mark Mendola. “This arrangement will enable us to continue providing our clients with the very best tax services in an increasingly volatile and uncertain environment. Integrating GE’s talent with PwC’s broad capabilities will allow us to deliver upon the Tax Function of The Future in an increasingly digitally enabled tax world.”
The arrangement with PwC comes after GE looked to reevaluate the optimum delivery of these critical global tax services now and into the future. The new Global Enterprise Tax Solutions team will sit within PwC Tax and will provide managed services not only to GE but also to other PwC clients as well. The five-year, renewable agreement will be effective April 1, 2017.
GE Vice President and Senior Tax Counsel, Mike Gosk, added “The agreement allows us continued access to the world-class expertise of global leaders along with the flexibility to scale to the requirements of the changing GE portfolio. We are pleased to advance our longtime relationship with PwC in a way that provides an opportunity for other leading companies to tap into the world’s best tax team while providing outstanding career opportunities for those legacy GE professionals.”