Goldman Sachs is so angry over a steep bonus surcharge being levied in London that it is vowing to move more than 1,000 highly paid employees to Spain. Under new rules, Goldman would have to pay a 50-percent tax on any employee bonuses over about $40,000. The Wall Street firm says it already pays the British government the highest taxes of any financial-services firm -- about $3.2 billion last year. The relocation would put a major dent in Britain's tax stream. Goldman employs about 5,000 people in the UK. Barclays CEO John Varley said he might also shift some operations. "This is a global industry and talent is mobile." Other financial-services firms were said to be in talks with government officials over alternatives to the new tax. http://www.nypost.com/p/news/business/in_brit_fit_goldman_sees_spain_1STAXV7K6fseow6fxNO7eL ROFL !
LOL.. Good. I'm not Goldman cheerleader, but this is what these idiot politicians deserve. This is exactly the kind of thing that is plainly obvious to anyone who pays attention.
A true indication of who runs the World eta - (Iâm takin my toys and movin to another sandbox â so there) RN
This is a blessing in disguise -- probably the best thing that has happened to British people in a long time. Let's just hope that Goldman does the same here in the US. FYI, they only paid $14 million tax to IRS last year, so their presence wonât be missed
Way to go, Goldman... Just show them our money mustn't be taken for granted. Why Spain though? Switzerland would be a more natural choice...???
Why not Dublin, tax free to many corps? And easy transfer from London? Let me piggybank on that thought. For those that think slashing taxes will fixes all problems why hasn't Ireland continued higher. No corporate taxes, that's why Google, Dell, and MFST is located there? Yes I know they had a RE bubble, I have family there. Things are so bad they are cutting social services.