Exact(4)
Then the American government helpfully imposed Regulation Q and the Interest Equalisation Tax, two measures that encouraged investors to hold a lot of their dollars offshore.
The international bond market moved from New York to London in 1963 precisely because the Americans had imposed their "interest equalisation tax"—and it stayed even after the tax was scrapped.
Doing so could save Britain.Ravin Thambapillai for Occupy London (Economics Working Group Stt Paul's Churchyard London SIR – The real impetus that spurred London to international financial supremacy was the introduction of an interest equalisation tax in America in 1963 alongside the long-standing Regulation Q, which limited interest rates paid on American onshore deposits.
At least five other ministers joined Donohoe in signalling opposition to the so-called "equalisation tax", but 10 of the EU's largest member states have backed a French proposal to tax the turnover of Google, Facebook and other web giants to "reflect some of what these companies should be paying in terms of corporation tax".
Similar(56)
It is known that the equalisation of tax made salt cheaper on the whole, decreasing the tax imposed on 130 million people and increasing it on just 47 million, leading to an increase in the use of the mineral.
The equalisation of tax cost the government 1.2 million rupees of lost revenue.
The abolition of the line and equalisation of tax has generally been viewed as a good move, with one writer of 1901 stating that it "relieved the people and the trade along a broad belt of country, 2,000 miles long, from much harassment".
While they've been doing this they've (apparently) singularly failed to line up behind him in a campaign for "tax equalisation" with those awful supermarkets, the rotters.
He will no longer be provided with the "tax equalisation" treatment that forced the bank to hand over £5.7m to cover his tax bills last year.
But given that Mr Martin has opened the door with his talk of tax equalisation, it's worth noting that most supermarkets would kill for something close to half that.
Reports have suggested he will now consult further on a stated aim to force companies to reveal a single figure for each director's remuneration, rather than the kind of extended packages that saw, for example, Barclays' pay an extra £5.7m "tax equalisation" on Diamond's behalf.
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