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Goldman Sachs sees US$5b earnings hit in Q4 before new US tax law
Add BT as a preferred sourcePublished Sun, Dec 31, 2017 · 09:50 PM
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New York
GOLDMAN Sachs expects to take a US$5 billion charge to its fourth-quarter earnings as a result of the tax bill that US President Donald Trump signed into law last week, the bank said in a regulatory filing.
It is a one-time blow for Goldman. The benefits of the law's tax cuts - including a reduction of the corporate income tax to 21 per cent from 35 per cent - will be much longer lasting.
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