Multinationals which send profits on revenues raised in Britain to offshore locations will have to pay a 25-per-cent diverted-profits tax, British officials said on Wednesday, dpa reported. Banks will also have to pay more tax because of new limits on offsetting losses from the global financial crisis (GFC) against current profits. Chancellor George Osborne told parliament in London that thwarting tax minimisation schemes by multinationals would raise around a billion pounds (1.5 billion US dollars) a year. Cutting tax breaks for banks would add 4 billion pounds a year to government revenues. -- SPA 20:45 LOCAL TIME 17:45 GMT تغريد
