3 ms·
Actually, at least for the US, fines paid to governmental agencies are generally non-deductible and so DB will take the full brunt of the fine to the bottom lin
by fitchjo 11y ago
Actually, at least for the US, fines paid to governmental agencies are generally non-deductible and so DB will take the full brunt of the fine to the bottom line.
- spuiszis 11y agoI agree in theory but in practice, it's not always the full amount but you get things like BofA deducting $12bn pre-tax from their $17bn mortgage settlement[1] or JPMorgan able to deduct a large amount of their $13bn fine[2]. There is always a loophole somewhere. [1]http://www.forbes.com/sites/robertwood/2014/08/21/bofa-grabs-12-billion-tax-write-off-from-17-billion-mortgage-settlement/ http://www.forbes.com/sites/robertwood/2014/08/21/bofa-grabs... [2]http://www.nytimes.com/2015/04/24/business/dealbook/deutsche-bank-settlement-rates.html?ref=dealbook http://www.nytimes.com/2015/04/24/business/dealbook/deutsche... [3]http://www.newsweek.com/2014/11/07/giant-penalties-are-giant-tax-write-offs-wall-street-279993.html http://www.newsweek.com/2014/11/07/giant-penalties-are-giant...