Warren Buffett, the veteran investor has issued a stinging criticism of the
US tax system, despite being a major beneficiary of the regime.
The world’s third richest man delivered the broadside at a fundraiser for
Senator Hillary Clinton as the debate has raged in the UK concerning the tax
breaks that private equity execs enjoy as they rake in huge profits from company
Buffett said that he was taxed at 17.7% on the 46.6m (£23.3m) he made last
year while his secretary had to weather a 30% levy on her $60,000 salary.
He also slammed a Republican proposal to eliminate certain facets of
inheritance tax demands. The levy currently brings in approximately $30bn from
America’s richest families. Buffett warned that the slack would be probably be
taken up by a tax hike imposed on the less prosperous.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
Accountancy Age Jobs is delighted to announce the launch of a brand new look website for finance and accountancy professionals
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The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime