United Kingdom Government 180 degree turn the Bank could not moving

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According to several foreign media reports that HSBC (HSBC) played down government regulation limited has achieved multiple victories, including changes to draconian tax on banks, is considering moving its headquarters to continue in London.

Recent United Kingdom Government attitude in a 180-degree turn in a series, including the amendment of the Bank tax. HSBC shareholders and executives said this means that HSBC is likely to decide by the end of the headquarters remained in London.

"The incumbent Chief Executive Stuart Gulliver (Stuart Gulliver) has almost got everything he wanted from the Government (the criteria). "The United Kingdom, the Sunday Times newspaper quoted a senior HSBC as saying.

United Kingdom ranked first among five bank HSBC announced in April this year, ongoing assessment, consider moving the headquarters out of London, including image, regulatory and political pressure as well as the tax increase.

In addition, the United Kingdom position uncertainty in the European Union, and require banks to separate retail and investment rules, and is also the part of HSBC's rethink about their future. New York Times after the financial industry cut

After the financial crisis, Europe and the United States proposed a tax on banks and prevent a recurrence of the financial crisis, assistance to the Agency and giving taxpayers a big financial institutions brought about by the systemic damage. June 22, 2010, the United Kingdom announced in the new budget proposed a tax on its banks.

According to Morgan Stanley (Morgan Stanley) were, as is headquartered in London, HSBC next 3 years you may need to the United Kingdom Government to pay $ 4.5 billion in tax, approximately 11% per cent of the Bank's net profit.

If HSBC headquarters were relocated out of United Kingdom, United Kingdom Government will be treated as any other foreign bank HSBC to treat only for United Kingdom taxation the taxable. Morgan Stanley estimates that after the relocation of the headquarters of HSBC about taxable 70% will no longer pay taxes, can save about 6% a year.

HSBC after announcing plans to move headquarters, some analysts pointed out that HSBC may be the desire to use it as a bargaining chip, and hope that the United Kingdom Government to withdraw the Bank tax. United Kingdom Government said soon, announced in July that it would reduce the Bank tax. After all, if HSBC finally decided to "move", that the city of London and the United Kingdom as the world's largest banking house position and image will have a significant impact.

United Kingdom Chancellor of the Exchequer Osborne said in early July, he will reduce the tax levied by banks for financial institution assets, instead of Bank profits tax.

"The next six years, I will gradually lower bank rates, since clearly, the tax no longer applied in the Bank's global asset. "The announced budget plans in Congress, Osborne said," but in order to allow the Bank to continue to make a reasonable contribution tax, Bank profits will from January 1 next year to introduce 8% surcharge. "

HSBC is the United Kingdom's largest bank, headquarters moved from Hong Kong to London for more than 10 years ago, global business, particularly in Asia, remains its strength. Exchange information, first half of 2015, 69% of HSBC's pre-tax profits come from Asia, only 16.2% from Europe, the Middle East and North Africa, North America, Latin America, and 6.6% and 3.1% each.

Hong Kong was HSBC's biggest market. S&P according to CapitalIQ data, in 2011, which is HSBC's Hong Kong performance independent disclosed last year, the Hong Kong market produced a profit of about 30%.

Hong Kong undoubtedly became headquarters of the candidate. The Hong Kong Monetary Authority welcomed, said HSBC was Hong Kong's largest bank, and Hong Kong has deep historical roots.