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London | The UK is poised to secure an exemption for financial services from new global rules on taxing multinationals, in a move that would ensure the City of London’s largest banks do not pay more tax on their profits in other countries.
The talks at the Paris-based OECD, which were due to conclude on Thursday, have accepted Britain’s case that the financial services industry be carved out of the proposed new global tax system, according to two people briefed on the negotiations.
The City of London financial district. The UK chancellor has been at pains to carve it out of a new global tax deals.
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