Bank levy raised by 0.03 percentage points
LONDON (Reuters) - The government increased the levy it charges on bank balance sheets in its 2011 Budget on Wednesday to counteract any benefit banks may receive from a broader reduction in corporation tax.
The new rate from 2012 onwards for short-term chargeable liabilities will be 0.078 percent, up from a previous 0.075 percent. For long-term liabilities and equity, the rate will be 0.039 percent, the finance ministry said.
- Tweet this
- Share this
- Digg this
- Children's corpses in Korean ferry reveal desperate attempts to escape |
- Man United act to halt slide as power shifts back to Liverpool
- Ukraine government says resumes offensive, hopes for more U.S. help |
- Australia vows to keep searching to solve missing Malaysian plane mystery
- Search for MH370 reveals a military vulnerability for China