HMRC Hits Back At Credit Suisse's £239M Suit Over Bonuses

Law360, London (May 28, 2019, 10:01 PM BST) -- Credit Suisse needs to prove the extent to which rival banks escaped paying taxes on employee bonuses in its £239 million lawsuit against HM Revenue and Customs, the tax authority said in new court documents.

In an amended defense filed with the High Court, HMRC has hit back at Credit Suisse's demand for compensation over the tax it paid on staff bonuses above £25,000 in the aftermath of the financial crisis, arguing the Swiss lender cannot infer and is required to prove the authority unfairly allowed several other banking groups to avoid paying the tax.

The tax authority said it has...

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