‘The Big Four accountancy firms have come under attack for maintaining on average more than 20 offices each in offshore tax havens despite countries working together to crack down on tax avoidance … MP Chuka Ummuna, who earlier this month confronted Barclays chief executive Bob Diamond over the bank’s 300 offshore subsidiaries, said: “There's a whole industry out there dedicated to helping people avoid tax that will increasingly come under the microscope.”
‘The Big Four declined to answer detailed questions on their activities in the tax havens last week. PwC said it had no comment to make. KPMG said: “We are in these locations to serve our clients.” Deloitte referred questions to the individual firms, adding: “In relation to Jersey, Guernsey and the Isle of Man, Deloitte offers services which are broadly of similar nature to those provided by the UK mainland firm.” Ernst & Young said: “We have rigorous policies and procedures in place to ensure that we only act for clients who are honest and operate within the law.”’
‘The Big Four accountancy firms have come under attack for maintaining on average more than 20 offices each in offshore tax havens despite countries working together to crack down on tax avoidance … MP Chuka Ummuna, who earlier this month confronted Barclays chief executive Bob Diamond over the bank’s 300 offshore subsidiaries, said: “There's a whole industry out there dedicated to helping people avoid tax that will increasingly come under the microscope.”
‘The Big Four declined to answer detailed questions on their activities in the tax havens last week. PwC said it had no comment to make. KPMG said: “We are in these locations to serve our clients.” Deloitte referred questions to the individual firms, adding: “In relation to Jersey, Guernsey and the Isle of Man, Deloitte offers services which are broadly of similar nature to those provided by the UK mainland firm.” Ernst & Young said: “We have rigorous policies and procedures in place to ensure that we only act for clients who are honest and operate within the law.”’
