More glory about the RBS results

It\’s also noteworthy that RBS made a pretax loss of £399m but had a tax charge on those losses of £634m. That\’s about –160%! Given all the accusations of tax dodging that have been thrown at the banks, not least by Treanor herself, I would have thought this was noteworthy. Wouldn\’t you?

That\’s fun, isn\’t it?

They\’re paying profit taxes on profits they don\’t have.

Hands up all those who think the banks are undertaxed?

3 comments on “More glory about the RBS results

  1. What exactly would be the benefit of RBS failing to pay the tax that is due? The argument isn’t that banks are undertaxed, but that they do not pay the tax that should be paid. Unless there’s another reason why Barclays have 181 companies operating out of the Caymans.

  2. The reality is that banks’ affairs are complex, the tax legislation is complex, and if banks don’t plan their tax in a sophisticated way then there will be numerous anomalies which result in their paying much more tax than is “fair”. Exhibit One is RBS.

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