Taxing times for banks
Article Abstract:
Commerzbank faces a large bill for unpaid tax for the ten years to 1996, and disagrees with the tax authorities over this bill. The bank is reportedly also taking legal action against the tax authorities over the publicity given to the bill. The bank argues that reserves will cover tax payments, so its profits will not be affected. Reports in the media have given a figure of 700 million German marks tax owed, while Commerzbank has stated that it owes arrears of some 10 million German marks.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Banks look to international stage
Article Abstract:
Scottish banks have set up international links outside the UK as well as expanding into England. Royal Bank of Scotland is opening a subsidiary in the US and has also acquired William and Glyns Bank in England. Bank of Scotland has acquired BankWest in Australia from the Western Australia government. Bank of Scotland is also present in France, Russia, Germany, Hong Kong and the US with its corporate banking offices. Both banks could be subject to takeovers.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Euro banks on a roll
Article Abstract:
Developments affecting European banks are examined in detail, including the impact of the US economy.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 2001
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