Wednesday, 29 July 2015

Britain Plays Chicken With HSBC And JP Morgan, Big Banks Win... For Now

From Forbes –

“Two of the largest multinational banking institutions operating in London threatened to decamp for the more tax-friendly pastures of Luxembourg earlier this month, claiming that Great Britain’s heavy tax levies on banks were making it too costly to continue operating in the region. I wrote about it at the time, explaining that although most high profile threats to relocate a business for tax reasons do not materialize, there has been a steadily growing chorus of companies pressing tax authorities to lower taxes… or else.”

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