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FINA Committee Meeting

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Minutes of Proceedings

43rd Parliament, 2nd Session
Meeting 57
Thursday, June 17, 2021, 3:52 p.m. to 5:36 p.m.
Hon. Wayne Easter, Chair (Liberal)

Library of Parliament
• Andrew Barton, Analyst
• Brett Capwell, Analyst
• Michaël Lambert-Racine, Analyst
The committee proceeded to the consideration of matters related to committee business.


Gabriel Ste-Marie moved, — That the Finance Committee ask KPMG Canada the following questions, and expects a response by August 1, 2021.

KPMG Canada may submit its responses with confidential client information redacted, making sure to submit a non-redacted version to the Law Clerk for verification.

1. KPMG has set up tax strategies that provide a financial vehicle enabling some of its clients to reduce their tax payable. For each case in which KPMG Canada created or helped create, directly or indirectly, one or more corporations in the Isle of Man, thereby enabling one or more Canadian taxpayers to conceal money or to reduce their tax payable, please provide the committee with the following:

a) All documents used in these strategies;
b) A list of the corporations that were created through these strategies;
c) A list of the officers and directors involved in these strategies;
d) The number of strategies and the number of individuals who benefited from them, directly or indirectly; and
e) The fees that KPMG received for each strategy.

2. In addition, please provide all of the above information for each similar strategy using jurisdictions other than the Isle of Man, making sure to indicate the jurisdiction for each case.

3. For each client of KPMG Canada who directly or indirectly benefited from an off-shore tax-reducing strategy, the conclusion of each file with CRA, including taxes reimbursed, interest incurred, and penalties for each taxpayer.

4. Did KPMG Canada ask another corporation, KPMG Isle of Man, or any other corporation to create, directly or indirectly, one or more of the five corporations registered in the Isle of Man under the names Parrhesia, Shashqua, Sceax, Katar, and Spatha? If so, which ones, and how? For that purpose, we ask that KPMG Canada interview staff members who may have information on this subject, and to not limit its research to the last ten years.

5. Did KPMG Canada directly or indirectly contribute to, or participate in, the creation or use of one or more of these five corporations? If so, which ones, and how? For that purpose, we ask that KPMG Canada interview staff members who may have information on this subject, and to not limit its research to the last ten years.

Debate arose thereon.

It was agreed, — That the motion be adopted pending a revision by the Translation Bureau.

• Serge Bilodeau, Chartered Professional Accountant
Pursuant to Standing Order 108(2) and the motion adopted by the committee on Tuesday, April 27, 2021, the committee resumed its study of Canada Revenue Agency’s Efforts to Combat Tax Avoidance and Evasion.

The witness made a statement and answered questions.

At 5:36 p.m., the committee adjourned to the call of the Chair.

Alexandre Roger
Clerk of the Committee