Was going through some old banking stuff today and found this old story:
Basically it's a story from an old FT article describing how Merrill managed to cook its books in such a way as to avoid paying tax for a couple of years.
Wonder what will happen now that Merill has been bought. Does this transfer so that Bank of America doesn't have to pay tax too?
Boring question I know, but I think we should find ways to stop letting the multinationals get away with this sort of cheating...