TaxPersonal TaxPrivate equity tax hike ‘would only affect 40 execs’

Private equity tax hike 'would only affect 40 execs'

The bulk of private equity executives would be unaffected by any proposed tax increase on the sector, reports suggest

A clampdown on private equity tax breaks would only hit 40 of the 200 execs
involved in the buyout companies. 

Of the top 200 partners in firms, 120 are classed as foreigners and 40 are
classed as non-domiciled, which means they
would be unaffected by a tax hike, The
Observer reported.

To compound the situation, the remaining 40 execs may move offshore if the
tax changes are enforced.

The fact that private equity bosses enjoy a 10% tax rate on gains they make
after investing in companies has been a bone of contention for the unions, and
Gordon Brown has come under increasing pressure to make changes to the regime.

Further reading:

New tax law could hurt Blackstone float

Private equity player admits taxes too
low

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