Banks signing up to the delayed code of practice on tax may also be forced to ensure their senior employees are paying the correct amount to the exchequer under proposals being considered by the Treasury, reports The Guardian .
It is thought that the code of practice, originally slated for publication alongside the budget, may include an obligation on banks to ensure their top staff pay an appropriate amount of tax. The code had been expected with the budget and again a fortnight ago. It is understood it is still not yet finalised and is unlikely to be revealed until after the European elections next Thursday. The main thrust of code, announced by Alistair Darling in March, is expected to be that banks are required to comply with the "spirit" and not just the letter of the law - a demand that some tax experts ...
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