Britain's financial industry paid a record near-$100 billion in taxes in th...
LONDON - Britain’s financial industry paid a record near-$100 billion in taxes in the year to March, reaffirming its central role in funding the state at a time when its future prospects have been clouded by Brexit.
The 75.5 billion pounds raised equated to one pound in 10 of all UK tax receipts, the City of London Corporation said in a report on Tuesday, adding that this month’s UK departure from the European Union would impact future contributions. “Legislative changes, technological innovation and the uncertainty surrounding Brexit are all expected to have some impact on the total tax contributions of the sector,” the report compiled by consultants PwC for the City said.
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