Banks could face a tax double whammy, if new plans by the IMF come to
It proposes a bank levy and aa transaction-based tax, a move that will cause
surprise in the business community which considered that just one of the ideas
would have been introduced.
In a document seen by
Times, the IMF’s proposals are set to be mooted at the next
G20 meeting of finance ministers in Washington.
A Financial Stability Contribution would be introduced. This levy would fund
future government support. A Financial Activities Tax on profits and
remuneration would also be introduced.
Bankers Association said it had expected a tax or a levy.
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
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The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today