Britain slaps tax on banker bonuses

The chancellor of the Exchequer, Alistair Darling, announced a one-time tax on bank bonuses, on Wednesday, as part of governments effort to shore up the still-weak British economy.

The tax will be levied on 2009 bonuses of more than £25,000, or $40,800. It will be imposed on the pool of bonuses paid by a bank, rather than individual payments, and it will be paid by the bank not by the recipient of the bonus. It will take effect immediately and will affect banks 2009 profits.

Comments (+)