Addie Posted September 11, 2015 Share Posted September 11, 2015 Has anyone seen this? It doesn't look good PR for the island, does it? Exclusive KPMG offshore 'sham' deceived tax authorities, CRA alleges Multi-millionaire KPMG Canada clients paid virtually no tax in Isle of Man scheme, court documents show http://www.cbc.ca/news/business/kpmg-offshore-sham-deceived-tax-authorities-cra-alleges-1.3209838 (apologies if a duplicate thread) Link to comment Share on other sites More sharing options...
The Sick Moon Posted September 11, 2015 Share Posted September 11, 2015 Any regular readers of Private Eye won't be surprised by anything KPMG do. One has to almost admire their creativity. Link to comment Share on other sites More sharing options...
Donald Trumps Posted September 11, 2015 Share Posted September 11, 2015 Hasn't one of their directors just been made President of the Chamber of Commerce? Link to comment Share on other sites More sharing options...
Andy Onchan Posted September 11, 2015 Share Posted September 11, 2015 I'm sure there are others out there that could shed some light on why IOM was used, but I'm guessing KPMG could quite easily have used an entity in any one of the other tax efficient jurisdictions out there. Link to comment Share on other sites More sharing options...
the stinking enigma Posted September 11, 2015 Share Posted September 11, 2015 from the same page .. cbc news thought it important enough to fly a film crew and tax professor over here to film some inbred dance moves and a couple of very shifty looking scotsmen http://www.cbc.ca/player/News/Business/ID/2675258601/ Link to comment Share on other sites More sharing options...
doc.fixit Posted September 11, 2015 Share Posted September 11, 2015 it's a good job that someone out there studies the news for us, thank you. This is he first I've heard of it, has it been reported here? Link to comment Share on other sites More sharing options...
dilligaf Posted September 11, 2015 Share Posted September 11, 2015 from the same page .. cbc news thought it important enough to fly a film crew and tax professor over here to film some inbred dance moves and a couple of very shifty looking scotsmen http://www.cbc.ca/player/News/Business/ID/2675258601/ Would you care to expand on that quip about Manx Folk Dancers ? Link to comment Share on other sites More sharing options...
the stinking enigma Posted September 11, 2015 Share Posted September 11, 2015 id rather not, they look like a tough family Link to comment Share on other sites More sharing options...
dilligaf Posted September 11, 2015 Share Posted September 11, 2015 id rather not, they look like a tough family Link to comment Share on other sites More sharing options...
notwell Posted September 12, 2015 Share Posted September 12, 2015 Wow. What a waste of a plane journey. I'm sure at the time like many schemes this was fine and legal. It's part of the standard witch hunt. Could have used any offshore location too. Link to comment Share on other sites More sharing options...
Moghrey Mie Posted September 13, 2015 Share Posted September 13, 2015 Wow. What a waste of a plane journey. I'm sure at the time like many schemes this was fine and legal. It's part of the standard witch hunt. Could have used any offshore location too. But they used the IOM and they were probably not the only clients to do so. Link to comment Share on other sites More sharing options...
Gladys Posted September 14, 2015 Share Posted September 14, 2015 Sham is a funny old word; it is a legal term that has different meanings under different legal ststems. So, what Canada may view as a sham arrangement because of the motivation of one party (including, for example, the Canadian tax authorities) may not be a sham and perfectly legitimate elsewhere. Link to comment Share on other sites More sharing options...
Lxxx Posted September 14, 2015 Share Posted September 14, 2015 I'm sure there are others out there that could shed some light on why IOM was used, but I'm guessing KPMG could quite easily have used an entity in any one of the other tax efficient jurisdictions out there. If you follow the paper trail I'm sure it'll lead from here to BVI and a few other perfectly legal and established offshore financial centres. Link to comment Share on other sites More sharing options...
notwell Posted September 14, 2015 Share Posted September 14, 2015 Storm in a teacup. Standard retrospective witch hunt akin to that going on in the UK whereby people are being persecuted (and prosecuted) over arrangements that were perfectly legal at the time. Disgraceful behaviour. Link to comment Share on other sites More sharing options...
The Sick Moon Posted September 14, 2015 Share Posted September 14, 2015 Isle of Shimon. Link to comment Share on other sites More sharing options...
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