Trump offers one-off tax for repatriated profits, US Treasury issues savings bond and other news


Wednesday, April 12, 2017  06:35PM / News From The Web

Donald Trump's plan to encourage US companies to repatriate profits held offshore will allow the 50 biggest American corporations to save at least $300bn (£240bn), according to research by Oxfam. The US president has promised that he will get America's biggest companies to bring their vast offshore cash piles back to US soil by offering a one-off tax holiday. The plan is to tax repatriated money at 10% rather than at the statutory rate of 35%. - Guardian

More than two million savers are set to join a rush to grab a market-beating interest rate of 2.2 per cent after the government's National Savings & Investment department yesterday released a savings bond with a guaranteed return that will beat what most banks and building societies offer. The Treasury expects to raise £7 billion from the bond offer, the first of its kind for more than two years. - The Times

American prosecutors have joined the widening inquiry into an attempt by the boss of Barclays to unmask a whistleblower who raised concerns over the bank's recruitment of one of his former colleagues. The US Department of Justice is the latest agency to investigate Barclays and Jes Staley, its chief executive, as it examines whether he and other senior directors of the bank broke rules put in place to protect whistleblowers. - The Times


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