(Reuters) - Private equity aficionado Guy Hands has defended the tax
system that governs the industry following criticism of the
existing structure. Hands said: "Unlike the bonus and option
system used to reward listed company directors, carry is
risk capital and should be taxed as such." Hands' comments came
ahead of a Treasury select committee meeting on Wednesday that
is expected to put the issue of tax to the leaders of five
private equity firms. The executives are expected to argue
private equity is key to the City's valuable financial services
sector and warn that any tightening of the tax code is likely to
prompt the industry to move to countries with more favourable
systems.
CBI CHIEF FEARS "WHOPPER" OF A BRUSSELS THREAT OVER FLEXIBLE
LABOUR MARKET
Read more at Reuters.com Mergers News
system that governs the industry following criticism of the
existing structure. Hands said: "Unlike the bonus and option
system used to reward listed company directors, carry is
risk capital and should be taxed as such." Hands' comments came
ahead of a Treasury select committee meeting on Wednesday that
is expected to put the issue of tax to the leaders of five
private equity firms. The executives are expected to argue
private equity is key to the City's valuable financial services
sector and warn that any tightening of the tax code is likely to
prompt the industry to move to countries with more favourable
systems.
CBI CHIEF FEARS "WHOPPER" OF A BRUSSELS THREAT OVER FLEXIBLE
LABOUR MARKET
Read more at Reuters.com Mergers News
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