Cable Forum - UK banks given tax deal deadline

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Maggy

17-10-2010 21:39

UK banks given tax deal deadline

http://www.bbc.co.uk/news/business-11560409

Quote:

UK banks have been given until November to agree to a code of practice that they will meet their tax obligations.
Chancellor George Osborne told the BBC that just four of the 15 major banks had so far signed the agreement which was introduced last year.
All banks would be required to agree to "pay what is due both in the spirit of the law as well as to the letter of the law", he said.

This could get tricky..One wonders if there is any government that has the teeth for the job let alone the will.:(

Stuart

17-10-2010 21:44

Re: UK banks given tax deal deadline

I wonder how much of the national debt we'd be able to repay if just a few of the large corporations actually had to pay all the tax the managed to avoid..

Osem	18-10-2010 08:55

Re: UK banks given tax deal deadline

It is a tricky one for sure. I wonder how many international corporations choose to operate here because the tax regime (and ways around it) suits them. Whilst we'd all love them to contribute more to UK PLC, we don't want to be chucking any babies out with the bathwater by possibly forcing them to move elsewhere taking jobs and potential tax revenues with them. A rock and a hard place spring to mind....

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