Goldman to move 1000 UK jobs to Spain - angry over bonus surcharge ?

[patchie]

Who gives a rats ass. Goldman does absolutely nothing for me and neither does he UK. Let Blankfein focus all his attentions on compensation. It certainly shows his true colors.

 

[dandxg]

But remember he is doing God's work.

 

[Equalizer]

Quote from dandxg:

But remember he is doing God's work.

perhaps they should drop the "L" from GOLDMAN then

 

[Ivanovich]

How long before Spain puts in a tax on them? How hilarious would it be? Goldman moves the operation to Spain, and 1 year later Spain hits them up.

 

[orange_trad]

Quote from ASusilovic:

Under new rules, Goldman would have to pay a 50-percent tax on any employee bonuses over about $40,000. The Wall Street firm says it already pays the British government the highest taxes of any financial-services firm -- about $3.2 billion last year.

The relocation would put a major dent in Britain's tax stream. Goldman employs about 5,000 people in the UK.

LOL. The tempest in a cup. They're just trying to negotiate a part of their taxes away, by whining. I would be interested though where the $3.2bn comes from. If this is GS we're talking about, it's safe to say that it is mostly trading charges, ie. stamp duty. No relocation would lower that. Let's see how they will front-run, pardon sir, execute flash orders from Spain... If the UK gov. thinks logically here, they would call GS's bluff.

 

[Spooz Top]

Quote from Ivanovich:

How long before Spain puts in a tax on them? How hilarious would it be? Goldman moves the operation to Spain, and 1 year later Spain hits them up.

that`s essentially how it works...enticing finance,multi-nationals,etc with attractive tax laws....then they turn up the flame.

 

[IanMacQuaide]

Quote from dandxg:

But remember he is doing God's work.

I'll gladly sell him my Grandpappy's preachin' robes, for the right price of course!

 

[SplitFire]

ahh.. F@ck UK and any other country that wanna f@ck with the Bulls..

 

[clacy]

I could give a sh*t less about GS and their bonuses, but it goes to show that there is a breaking point on taxes at which they become counter productive to revenues.

NYC proved this as well.

 

[TraderZones]

Quote from lemeeeplay:

This is a blessing in disguise -- probably the best thing that has happened to British people in a long time. Let's just hope that Goldman does the same here in the US.

FYI, they only paid $14 million tax to IRS last year, so their presence won’t be missed

how much did their employees pay? And how much would it cost if those employees lose their jobs?