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02 Mar 2009
The Liberal Democrats' Treasury spokesman has called for an independent review into tax haven use of British banks that have been bailed out.
Lord Oakeshott, spokesman for the Treasury and the department of work and pensions, wants ministers to disclose the cost of banks operating offshore subsidiaries, now that the taxpayer is footing the bill.
Britain's largest banks have extensive operations in tax havens. Lloyds has more than 125 offshore companies while Royal Bank of Scotland has 238, including 66 in the Cayman Islands and 30 in Jersey.
Meanwhile, RBS owns the Isle of Man bank that prints banknotes for the island and Coutts, which provides offshore services for wealthy private clients.
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Briefings
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Tax Havens
If taxes were at levels we all could believe were reasonable, and they were levied in a way which could be accepted as fair and just by all, there would be no need for tax havens. The perception is that taxes are usually unfair and they fall on those who work hardest. If you want to build a fund for your retirement, lift family members out of poverty, you can expect to pay high taxes in life and even higher on death. If you earn a high remuneration you should be able to enjoy it. Special encouragement should be given to those who wish to contribute to charity. The stupid fiction of "National Insurance" should be abolished. it is just another tax designed by politicians to confuse voters.
Posted by: john freeman, 04 Mar 2009 | 00:00
not yet a human!
In some point i hate how government deducted a taxes from workers! They are so mean especially on single person. They will say that you can get it after a couple months but not as same as they have deducted on you. I remember when I am looking for a job and applying, a man ask me if i already have a tax number, then I said " none" and he said that I am still not a human because I haven't paying a tax. Still confuse on that question? Is there anyone there who can answer me why did he tell that?
Vernice
Posted by: Vernice, 27 Oct 2011 | 06:10