Thursday, May 2, 2013

Goldman's 'Sweetheart' Tax Deal Challenged Before High Court

From HuffPo: A British pressure group on Thursday challenged what it described as a sweetheart tax deal between U.K. authorities and Goldman Sachs, arguing that corporations are forgiven millions while the poor face the brunt of austerity measures.

UK Uncut Legal Action, which campaigns against tax avoidance, argued before Britain's High Court that it was unlawful for the investment bank to avoid a multimillion pound interest bill for unpaid tax on bonuses. The group said taxpayers are out 20 million pounds ($31 million), though the potential cost was estimated by the auditor general as being between 5 million pounds and 8 million pounds….

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