US plans to end tax privileges for private equity firms could hit the profits
of Blackstone, the company revealed.
Blackstone, which is set to list on the New York Stock Exchange, said that it
recognised that the tax rise could affect its costs but did not lower its offer
price, The Guardian reported.
A bill is progressing through the US house that would force private equity
firms to pay capital gains tax of 35% rather than the 15% that they can pay
under current law.
Blackstone was expected to raise $4.7bn (£2.4bn), valuing the firm at $33bn.
Meanwhile, UK union leaders continued their attack on the private equity
industry yesterday, calling for the Treasury to widen its scope of investigation
into the industry to encompass the tax privileges of PE chiefs.
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
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states