Taxes and Regulations Could Lead to Goldman Sachs Quitting UK Market
Taxes and Regulations Could Lead to Goldman Sachs Quitting UK Market

Speculations are the Goldman Sachs could soon be packing away from the UK sector. It has been reported that the bank is now weighing its options in the light of the many important tax and regulatory changes that the country's Government is introducing, especially the new tax on bankers' bonuses (50% of the total bonus awarded) and more tough banking regulations.

It has been reported that the world's most powerful investment bank is now asking an internal team to access various strategies, inclusive of those which would involve complete units being uprooted and moved offshore.

The review is still in its very early stages and the recommendations could also include making no changes at all to the status quo.

Starting this year, the Government will be imposing a 50% tax on bonuses awarded above 25,000 Pounds, and this seems to be the main reason for Goldman to be thinking about moving.

Banks have been highly criticized in the financially tough scenario as the only ones to have benefitted, and Goldman Sachs has always been very keen on highlighting the taxes it pays to the UK Government to take some of the heat off.

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