Major U.S. banks will pay $2.3 billion for the U.K.'s tax on bonuses

08/12/2010 | CNBC

Goldman Sachs, JPMorgan Chase, Morgan Stanley, Citigroup and Bank of America set aside a total of about $2.3 billion to pay the U.K.'s one-time 50% tax on bankers' bonuses. Goldman set aside $600 million, according to a review of filings with the Securities and Exchange Commission. The tax initially was expected to raise an estimated $860 million but has brought in much more than expected.

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