Reuters logo
10 months ago
Review of SocGen rogue trading tax credit "possible" minister
October 3, 2016 / 11:27 AM / 10 months ago

Review of SocGen rogue trading tax credit "possible" minister

PARIS, Oct 3 (Reuters) - French budget minister Christian Eckert said on Monday that the state might review a tax credit French bank Societe Generale received following rogue trading losses suffered in 2008.

The government has asked tax authorities to investigate the tax implications of an appellate court ruling last month that former rogue trade Jerome Kerviel pay the bank 1 million euros ($1.1 million) in damages.

"I think that a review ... is possible," Eckert said on BFM Business television, adding that tax authorities were due to offer their opinion in the coming weeks, if not days.

SocGen obtained a 2.2 billion euro tax break in relation to the 4.9 billion euros in losses that Kerviel racked up for the bank.

$1 = 0.8903 euros Reporting by Leigh Thomas; Editing by Ingrid Melander

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below