Tax on banker bonuses to be ‘globalised’ by Deutsche Bank

21 December 2009

The impact of a new tax on bankers’ bonuses is to be spread globally across Deutsche Bank, the company’s chief executive officer (CEO) has claimed.

Speaking to the Financial Times, Josef Ackerman said it would be fairer for the organisation to distribute the levy throughout the business.

The comments follow an announcement by chancellor Alistair Darling that staff at UK banks will be required to pay a one-off 50 per cent tax on any bonuses above £25,000 ($40,700).

Mr Ackerman told the FT that the Deutsche Bank would “clearly globalise” the tax.

“If parts are paid out of the bonus pool, we would seek to globalise it. It would be unfair to treat the UK bankers differently,” he explained.

The firm’s CEO added he was against the UK government’s decision to introduce the tax.

“Bonuses should be the result of supply and demand for skilled people,” he stated.

The French government announced it is to follow the UK authority’s lead and introduce a similar levy on banker bonuses.

By Jim Ottewill

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