Deutsche Bank to appeal tribunal ruling on bankers' bonuses
Deutsche Bank has confirmed it will fight HM Revenue and Customs (HMRC) in the UK over a decision to force the German-owned bank to pay taxes on bankers' bonuses dating from 2004. The legislation the bank used to avoid paying tax on these bonuses has since been amended, to prevent it being used in this way again.
While the bank did not act illegally, and there is no suggestion of this, it used tax exemptions in a way the legislation had not intended to avoid tax being paid on bonuses.
In 2004, a
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