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  • KPMG offshore 'sham' deceived tax authorities, CRA alleges

    A wealthy Victoria, B.C., family paid virtually no tax over a span of eight years – and even obtained federal and provincial tax credits – while being involved in an offshore tax "sham" developed by one of the country's most respected accounting firms, the Canada Revenue Agency alleges.

    The Canada Revenue Agency (CRA) believes there may be many more like them.

    Court documents obtained by CBC News and Ici Radio-Canada show that in 2000, Peter Cooper and his two adult sons, Marshall and Richard, signed up for a KPMG tax product in the Isle of Man that targeted "high net worth" Canadian residents, promising they would pay "no tax" on their investments.


  • #2
    KPMG tax 'sham' could lead to criminal investigation, experts say

    A KPMG tax avoidance scheme in the Isle of Man could lead to a criminal investigation if the Canada Revenue Agency can support allegations that the accounting firm's offshore structure intended to deceive authorities, two tax experts have told CBC News.

    "It is clearly a case where it could lead to a criminal investigation, because obviously there were things that were done here that were not in line with reality," University of Laval tax professor Andre Lareau told CBC News during a trip to the Isle of Man this summer.