Saturday, March 4, 2017

KPMG and Tax Havens for the Rich : The Untouchables

A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world

KPMG Canada devised what it called an “Offshore Company Structure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it.

In the U.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency.
A federal government inquiry vowing to get to the bottom of it went nowhere

What was the accounting firm trying to hide?

With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man offshore tax haven, we expose the details of the scheme and unveil the names of some of the wealthy clients.

A joint investigation by the fifth estate and Radio-Canada’s Enquete program

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