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Results: 46 - 60 of 226
View Julie Dzerowicz Profile
Lib. (ON)
Mr. Bilodeau, how does the approach at KPMG in ensuring that you have practices in place to ensure that you're not helping clients avoid or evade taxes line up with the best practices or best in class in Canada, or even around the world, actually? How are you ensuring that you have the best-in-class practices in place to make sure that you're not in any way, as a company, helping companies to avoid paying taxes or to evade taxes?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:53
First, let's make one thing clear: KPMG does not engage or participate in transactions that could be considered tax evasion.
In short, tax evasion is deliberately ignoring the law. So you ignore the test of the law. KPMG is not involved in tax evasion.
However, tax avoidance, not tax evasion, is a different story. Tax avoidance refers to operations that reduce taxes, but that first follow the letter of the law. A second test seeks to determine whether it also follows the spirit of the law.
The professionals involved must first determine whether the tax plans proposed or analyzed follow the letter of the law. That is the first test. The professionals, the associates, have the expertise required to perform this analysis.
As for the second test, whether the spirit of the law is respected, the associates must automatically do their analysis, but they must send it to the risk management committee, which will either support or reject the transaction in question. If the committee rejects the transaction, the associate is not allowed to implement the plan. If the committee approves the transaction, the associate may continue discussions with the client on the plan.
View Gabriel Ste-Marie Profile
BQ (QC)
Thank you, Mr. Chair.
Good afternoon, Mr. Bilodeau.
From my point of view, creating a company in the Isle of Man, into which wealthy Canadian clients pour their fortune, so that the shell company can then pay them tax‑free donations, is completely immoral. I, for one, want to live in a society where such schemes are illegal. That is why the committee is doing this study on the situation.
I want to remind you that all witnesses who appear before committees of Parliament are protected by immunity, meaning that you do not have to worry about incriminating yourself or anyone else. If something were to be revealed, under no circumstances could it be used in a lawsuit. That is what the Law Clerk and Parliamentary Counsel of the House has reminded us. What we want to do is get to the bottom of it, and I think that this immunity allows us to do that.
To your knowledge, is there a connection between KPMG and the sword companies: Shashqua, Katar, Sceax, and Spatha?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:57
My former colleagues answered that question based on the analysis that was conducted.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:57
You will understand that I cannot testify and make assumptions about things I do not know. All I can confirm, as I mentioned in my opening remarks, is that I do not know these companies, I have never heard the names of these companies and I do not know the people involved.
I know that the firm was asked, and my former colleague, who is responsible for taxation in Canada, answered it.
View Gabriel Ste-Marie Profile
BQ (QC)
She actually didn't answer it, and we just passed a motion to have her answer it.
So let me confirm what you just told me: to your knowledge, there is no connection between KPMG and Shashqua, Katar, Sceax, and Spatha. Did I understand correctly?
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:58
I don't know them, and the firm answered that it had no connection with those companies.
View Gabriel Ste-Marie Profile
BQ (QC)
I find it curious that you don't just say “yes, you're right”.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:58
Look, I'm strongly encouraging this committee to investigate the matter. If it appears that there has been fraud, that's not right and I would encourage your committee to continue its investigation. KPMG representatives will answer your questions, as they always have.
View Gabriel Ste-Marie Profile
BQ (QC)
Thank you for that thought, but I find your way of answering rather curious. I am just asking you to confirm that, to your knowledge, there is no link between the sword companies and KPMG. Your answer goes around and around and ends up back at your statement. It's as if there's something you don't want us to know, and I find that worrisome.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 16:59
No.
Mr. Ste‑Marie, I probably wasn't clear enough. In fact, there are two answers to your question.
First, there is my own personal answer, which regards my work as a partner and non‑partner at the firm. I believe that I clearly said that I don't know these companies and I don't have any ties with them.
Now, the second answer is KPMG's. As my colleague said in her previous appearance, efforts were made to look for ties with those companies across the firm as a whole, but nothing was found.
View Gabriel Ste-Marie Profile
BQ (QC)
Very well, thank you.
I still want to add that the KPMG representatives said that they looked over the past ten years, whereas all of this started far before then. That's why we're reaching out to them again for answers.
I would like you to speak on your own behalf, not on behalf of KPMG.
Serge Bilodeau
View Serge Bilodeau Profile
Serge Bilodeau
2021-06-17 17:00
Okay, perfect.
View Gabriel Ste-Marie Profile
BQ (QC)
I understand that there are no ties.
I also take it that you don't personally know anyone who, whether closely or remotely, worked with, had ties with or contributed to the operations of those companies with swords in their names: Shashqua, Katar, Sceax and Spatha. Is that correct?
Results: 46 - 60 of 226 | Page: 4 of 16

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