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Banks in the U.K. paid 34.2 billion pounds ($42 billion) in tax in the latest fiscal year, 9 percent more than a year earlier, reflecting an increase in the levy on balance sheets and changes to corporation tax, a report from the British Bankers' Association showed. Receipts were evenly split between domestic and international lenders, with the former paying 17.4 billion pounds and the latter 16.8 billion pounds in the year through March 31, according to the report, which was produced by PricewaterhouseCoopers and based on data from 36 firms. PwC surveyed seven more banks this year than for the 2014-15 tax year, but the additional data did not affect the numbers, the BBA said by email. Fourteen U.K. banks and 22 foreign lenders took part.
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