Bring forward this beast, KPMG.
More details on the KPMG/Isle of Man tax dodge scheme. The CBC has revealed documents showing that KPMG's "anti tax-avoidance" group knew the deal was bent but apparently stood down as it went ahead anyway.
The executive writes in a January 2001 email, that a "majority" of the members of the group were concerned federal tax authorities might find out about undeclared money coming back to Canada. In that event, it would be "plausible" for the CRA to argue that the Income Tax Act was "violated," the email says.
Still, the KPMG executive writes, the revenue agency would not be able to challenge the tax plan without proof that the money had made its way back into Canada.
"It would be difficult for [the CRA] to criticize the transactions unless they have evidence of the moneys (sic) coming back," the email says.
The email also says that even if the CRA did eventually find out, "many taxation years could be statute barred." In other words, the email suggests, too much time might have passed for the agency to do anything about it.
Let's break that down. The group, whose name suggests it was designed to prevent tax-avoidance schemes, was actually engaged in figuring out whether KPMG execs could get away with it.
Would the revenuers find out about it?
What were the chances the revenuers would be able to prove the illicit funds made their way back into Canada?
Even if the revenuers did discover the scheme, detect the transmission of funds and put together a case, might all or most of the illicit funds be off limits, "statute barred" through the passage of enough time?
They weren't trying to derail a tax scam before it got underway. They were gaming the odds of getting away with it. Yeah, sure, it's illegal as hell. But will the government even find out about it? And, even if they find out about it, will they be able to prove it? And even if they find out about it and they're able to prove it, will the clients still be off the hook thanks to the passage of time, the statute of limitations?
Who thinks like that except a bunch of crooks? It sounds exactly like organized crime, maybe without the broken bones and gunplay.
I think it's time we hauled that beast out into the light where we can kill it.
.. KPMG seems just another smelly smelly clue re the long reach of the Harper Government PMO .. You're right, its a beast that needs to be dragged out into the light of day.. but I doubt it goes any further than the Wall Street & Bay Street thugs after being exposed. That CRA colluded - no doubt from the highest levels with the even more exalted & immune PMO - Ray Novak - Stephen Harper level should be no surprise & will never be punished.. its the nature of the Beast.. its either immune, has Cabinet Confidence or triple deleted.. and/or wiped or edited a la The CPC voter database.. or moved to Kuwait. Its all becoming as normal & accepted as Peter Van Loan speechyfying the day after elbowgate about what he witnessed, while looking down at notes on one of his many Blackberries.. either the taxpayer expensed or the backchannel CPC HQ one, or the Poutine one.. These are the folks in bed with F35's - Israel - Ukraine - Saudi Arabia - Big Oil - Big Media .. Of course they stink.. they reek.. We give them immunity to do so & allow them to parade as the keepers of Canadian Values ...
ReplyDeleteThis is what this company says about itself......
ReplyDeleteKPMG’s global values define us as a firm for ourselves, for our clients, and for the marketplace. Our values describe who we are, what we do, and how we do it. Our values also help us attract and keep quality people, develop relationships with the appropriate clients, and protect and enhance our reputation. We aim to incorporate them into our relationships with our clients and colleagues so that they are reflected in the work we do every day and in the relationships we have with each other and with our clients.
Our culture
The KPMG culture is rooted in our values. Our integrity and policy of open and honest communication builds trust and collaboration, while our flexibility and diversity creates a culture in which people share knowledge freely, bringing out the very best in each other. Asked why they choose to work with KPMG, many clients talk about our high level of professional ethics, our loyalty, and our approachability.
Another lawyer who thinks he is entitled. He doesn't have manners and lacks integrity.
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