Chief executive of Goldman Sachs’, Lloyd Blankfein has
publicly admitted that the reason behind the bank’s decision to drop its plan
to save its British employees millions of pounds in bonuses through tax
avoidance schemes was due to media pressure and outrage.
Tax Fraud is now at an all-time high following the start of
the recession. The Vat gap is believed
to be around £3.3bn and is being blamed on the HMRC being under-resourced
according to BDO’s FraudTrack report.
