TaxCorporate Tax$19bn banks tax looms in the US

$19bn banks tax looms in the US

US banking reform plans include a $19bn levy

A proposal to reform the US banking system could hit the financial
institutions with a $19bn (£12.7bn) levy.

The US congress has agreed to reform the banking sector: banks will only be
able to make limited investments in hedge funds and private equity, while the
levy could bring in billions over the next five years, reported the
Times
.

Further reading:

Success
of bank levy scheme hangs on G20

Emergency
Budget: Bank levy will raise £2bn

Banking
reform report: “fundamental questions” about purpose of audit

Related Articles

Markets expected to respond positively to US policy changes

Corporate Tax Markets expected to respond positively to US policy changes

7m Alia Shoaib, Reporter
Banks’ £135m tax avoidance scheme shutdown by authorities

Corporate Tax Banks’ £135m tax avoidance scheme shutdown by authorities

2y Fraser Simpson, Reporter
HMRC protects £45m in second Abbey National avoidance case

Corporate Tax HMRC protects £45m in second Abbey National avoidance case

2y Calum Fuller, Reporter
#AS2014: Banks hit with £3.5bn rap on knuckles

Corporate Governance #AS2014: Banks hit with £3.5bn rap on knuckles

3y Chris Warmoll, Writer
UK’s banks pay 71% of profits in tax

Corporate Tax UK’s banks pay 71% of profits in tax

4y Calum Fuller, Reporter
Tax naming and shaming could be extended to banks under HMRC plans

Corporate Tax Tax naming and shaming could be extended to banks under HMRC plans

5y Calum Fuller, Reporter
Colin: Lifeline for Tobin?

Corporate Tax Colin: Lifeline for Tobin?

5y Taking Stock
Barclays’ tax avoidance division generated £1bn annually

Corporate Tax Barclays’ tax avoidance division generated £1bn annually

5y Calum Fuller, Reporter