U.K. Bonus Tax Didn't Deter Banks From Paying Bonuses: Report

First Posted: 03/18/10 06:12 AM ET Updated: 05/25/11 04:05 PM ET

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Goldman Sachs , Fiscal Policy , Alistair Darling , Deutsche Bank , Bank Bonuses , Jpmorgan , U.k. Bonus Tax , Wall Street Bonuses , Business News

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The U.K.'s 50 Percent Tax On Bonuses Is Reportedly Not Deterring Banks From Paying Bonuses, Though It Is Generating Revenue For The Government

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nytimes.com:

As a deterrent, the measure to tax bonus payments of more than �25,000 at a one-off rate of 50 percent has failed, as many banks decided to pay the tax rather than cut back on bonuses, The Financial Times reported.

Read the whole story: nytimes.com

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