In the fall of 2015, Canadians heard news reports of wealthy tax dodgers using accounting giant KPMG’s Isle of Man scheme to avoid paying tax at home. Later, in the spring of 2016, we learned that the Canada Revenue Agency negotiated a secret deal with KPMG to offer their clients secret amnesties without penalties and very little interest if they just agreed to pay the taxes they should have paid in the first place.
In response to public outrage, the House of Commons Finance Committee decided to conduct hearings to find how the Canada Revenue Agency was handling the KPMG Isle of Man file. The hearings also aimed to get KPMG officials to explain themselves and their practices.
Things did not go well — at least, from the perspective of regular taxpaying Canadians.
Leave a Reply