Goldman ‘may leave London’

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FT Alphaville ¬ª Goldman ‘may leave London’.

Another misleading FT story.

The reality is they are 'looking at' some departments relocating according to the Telegraph.

Not quite the same as Goldman leaving London.

And let's also be clear: the time will come when we will simply have to change the basis of bank taxation to ensure that artificial relocations don't work.

It's possible: unitary taxation would do it. This would massively increase the chance of tax compliance i.e. s seeking to pay the right amount of tax (but no more) in the right place at the right time where right means that the economic substance of the transactions undertaken coincides with the place and form in which they are reported for taxation purposes.

And that what stop these silly games that the financial services industry is playing at cost to us all.