THE BUDGET - DTR Changes - Response to the Chancellor
Letter to:
The Right Hon Gordon Brown, MP, PC
The Chancellor of the Exchequer
HM Treasury Treasury Chambers
Dear Chancellor
THE BUDGET - DTR
I am writing on behalf of The Association of Corporate Treasurers to express our serious concern at the proposed changes to the tax legislation regarding double taxation relief contained in this year's budget.
Mr Peter Moore
Investment Business Policy Department
FSA
10 April 2000
Dear Mr Moore
RESPONSE TO CP 43
We are responding on the questions that are most relevant for our membership, i.e. corporate treasurers and finance directors in medium to large companies.
Q 2.8 and 2.9 - Criteria for identifying intermediate customers
Message from the chairman of the committee Some of our readers may already be aware that this year marks the 21st anniversary of the formation of the Association of Corporate Treasurers.
Information on the Consultative Paper issued by the Basel Committee
on Banking Supervision "A New Capital Adequacy Framework"
The Association has responded to the proposals by the Basel Committee for a new capital adequacy framework. These proposals are important for borrowers because they may affect loan margins and loan documentation. The response expresses the Association's concern that the existing proposals could have negative implications for both of these for many borrowers.
Our comments relate primarily to the proposals for capital to cover credit risk and we are commenting only in general terms on the proposals for capital to cover other risks.
