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garyth123 commented on the word structured trades
In the news today. RBS avoided £500m of tax in global deals.
The previous management, led by Sir Fred Goodwin - who is now retired with a £700,000-a-year pension - presided over a massive expansion of so-called "structured trades". These are huge deals across national borders, to make profit out of tax avoidance. They are not illegal, but secretively exploit gaps in different countries' tax laws.
March 13, 2009