Don't you just love a touch of hypocrisy? AccountancyAge has published a belter which includes Loughlin Hickey, global head honcho at KPMG's tax practice. In his piece, Hickey (sic) says:
"The traditional bright line between avoidance (using legal means to reduce tax burdens) and evasion (illegal acts) is not sophisticated enough to delineate the difference between appropriate and inappropriate actions in a society that relies on a public private partnership to create wealth and regulate behaviour.
Equally the arbitrary ‘smudging’ of that line to shift the boundaries of tax evasion to cover legal actions that have unintended fiscal consequences not only creates uncertainties and mistrust, but could also tempt the tax agencies to go beyond their remit to enforce the blurred definition on taxpayers.
We need to restore the certainty that acting within the law is a right and an obligation of taxpayer and tax collector."
Is he having a laugh or what? This is the company that recently got slapped with $456 million fine for engaging in illegal practices and which has recently been flayed again for
crap less than thorough audit work.
Who's uncertain here? Who ever thought there was anything other than a 'traditional bright line.' I don't know about you but I find it very hard to believe someone who's firm has just been given such a severe thrashing - twice. But then I suppose someone's backside was a bit sore and they couldn't sit down long enough to hold their job. Hence the promotion. Hence the new spin. And maybe long term rehabilitation back into the fold of the good and the great. Ho hum.