US politicians are rushing through legislation that would hit bankers with a
90% tax on their bonuses.
The law going through Congress will affect any employees of any company that
has received more than $5bn (£3.4bn) in money to rescue it. Any employee with a
gross income of more than $250,000 who was paid a bonus this calendar year would
face a 90% tax on it, reported the FT.
The bill is being pushed through after it was revealed that AIG has paid out
$165m in bonuses, having received over $170bn of public money to rescue the
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges