Nearly a third of the 26 large foreign banks operating in Australia, including Goldman Sachs, JPMorgan, Lloyds and BNP Paribas, had no taxable income in 2014, data released by the Australian Taxation Office shows. Eight banks with total revenue of $9 billion had no taxable income, while Credit Suisse, which… – Continue reading
J. Safra Sarasin Holding Ltd., the Swiss private bank owned by billionaire Joseph Safra, indicated it may make further acquisitions after the purchase of Morgan Stanley’s Geneva unit. The company “is ideally positioned to pursue our growth strategy and act as a leading player in the ongoing industry consolidation” in… – Continue reading
Seven Dutch financial institutions may be involved in evading taxes and are ‘extremely vague’ about what they do to ensure this does not happen, the Dutch Fair Bank Guide said on Wednesday. ABN Amro, Aegon, Delta Lloyd, ING, NIBC, Rabobank and Van Lanschot emerge as potential tax avoiders in research… – Continue reading
