BANKRUPT BANKER
only four of the 15 major British banks have signed the code, set up last year by the former Labour government to try to deter tax avoidance schemes.
Sunday, 17 October 2010
only four of the 15 major British banks have signed the code, set up last year by the former Labour government to try to deter tax avoidance schemes.
"We are going to be looking at the code of practice that the banks were supposed to sign up to make them good taxpayers," he told BBC television.
"I am going to be requiring by November that all the banks sign up to the thing that the last government said they were going to be signed up to and pay what is due."
Former Chancellor Alistair Darling published the code of practice last year to ensure that banks complied "not just with the letter, but with the spirit of the law."
It followed media reports of banks using elaborate, but legal, international schemes to avoid paying hundreds of millions of pounds to the British government.
