TaxCorporate TaxDeutsche Bank to share bonus tax pain globally

Deutsche Bank to share bonus tax pain globally

All of investment banking giant staff will shoulder the burden of UK tax on bonuses

Deutsche Bank is planning to smooth out the effects of the government’s sting
on UK banking bonuses among its staff across the globe, claiming it would be
unfair to single out UK employees.

The banking industry has been up in arms about
the
clampdown
which was announced in the pre-Budget report earlier this month.

Deutsche’s CEO Josef Ackermann told the
FT:
“If parts are paid out of the bonus pool we would seek to globalize it.

“It would be unfair to treat UK bankers differently.”

Further reading:

PBR
09: Bankers hit with one-off 50% bonus levy

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