A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world
KPMG Canada devised what it called an “Offshore Company Structure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it.
In the U.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency.
A federal government inquiry vowing to get to the bottom of it went nowhere
What was the accounting firm trying to hide?
With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man offshore tax haven, we expose the details of the scheme and unveil the names of some of the wealthy clients.
A joint investigation by the fifth estate and Radio-Canada’s Enquete program
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About the fifth estate : For four decades the fifth estate has been Canada's premier investigative documentary program. Hosts Bob McKeown, Gillian Findlay and Mark Kelley continue a tradition of provocative and fearless journalism. the fifth estate brings in-depth investigations that matter to Canadians – delivering a dazzling parade of political leaders, controversial characters and ordinary people whose lives were touched by triumph or tragedy.
These are criminals working against the interest of Canada and should be arrested, charged and jailed and not allowed to operate here.
But surprisingly the government of Canada is in cahoots with the top leadership here and they seem to be getting away with murder and the tax cheats walking away from their responsibilities as citizens.
Justin Trudeau has does not have any BALLS as a prime minister to stand up for Canada but good at his games to manipulate the system and people.,
SO AT THE END OF THE DAY JUST PAY A FINE FROM THE MILLIONS THEY PROFIT?? DOESN'T SEEM JUSTICE WAS SERVED. SOMEONE HAS TO BE JAILED FOR JUSTICE TO BE SERVED NOT JUST INVESTIGATE AND FINE THEM, THE FINE IS A DROP IN THE BUCKET FOR THESE GUYS!!
Why do people try to avoid paying taxes? Maybe because of things like this: http://business.financialpost.com/business/canadas-economic-growth-has-come-at-a-price-its-debt-level-is-now-highest-in-the-developed-world
The person earns it and the person should be allowed to keep a majority of it. In socialists countries like Canada the tax rates are simply too high. It beats everyone down to the point where it is artificial equality and lack of motivation to get ahead. Some amount of tax is necessary but it is a fact that governments (i.e. the people who elect them and fail to hold them accountable) waste money and steal it for themselves. When you are cheering for the tax man, you are cheering for the politicians that are stealing countries blind. Wake up. Being mad at people because they had the courage and foresight to try to protect what they earned is simple, petty jealousy and "news" programs like this liberal propaganda show pander to you. The Fifth Estate only ever shows one side of a story. No mention of government waste, the efforts of the individuals to earn the money, or how a tax revolt by the citizens would actually be good for the country. Try to see more than just what you are being spoon fed by the media.
it should be illegal to give money...make an AI that gage the price of everything, to prevent money laundering and tax havens
i might also add that the concept of "Gross domestic product" is flawed because the government doesn't value materials as a form of currency.
He wanted to commit a tax crime but because he lost his $ before he could commit the crime he wants the fee back? No I do not think so! Canada's rich& wealthy just as bad as 🇺🇸 rich& wealthy; they never want to pay the taxes they know will help their country& fellow citizens yet always want people to financially help them out⁉ The money people paid to get into this tax fraud+ the part of taxes they did not pay to Canada but yet paid to kpmg to help commit this tax fraud is taxes but instead of the money being paid to Canada the money got paid into kpmg; but trust when the rich& wealthy get sick they will utilize the socialize care that you'll have in Canada that they do not want to pay the taxes in order to maintain😥
"Raise the visibility" (25:24-25) of what the company is doing. This is focusing on the tax fraud but how are they manipulating the many audits they provide? On a side note, I am also wondering why Mr. Easter is repeatedly fiddling with his fingers, so much, as he discussed this issue a foot away from the hostess? Interesting. I'll refrain. ;-)!!!
Laws and jail are for the poor and "UNCONNECTED". There are people in PRISON for doing far less than what these traitors, thieves, and tax cheats do. The money being hidden was probably stolen from the countries these folks worked for. Isn't the American Legal B.A.R. the British Accredited Register owned by the Crown corporation ??
KPMG are a dirty organization and its disgusting that our Government punishes working fathers and mothers who miss 500 bucks of tax payments but these criminals dont pay hundreds of thousands and its forgive and forget.
God bless that guy going after the wealthy. And Trudeau should be prosecuted for not taking action.
This has been going on for years now, I'm so ashamed. I have been audited numerous times by CRA, when I was in high school and college, making only about $15,000/year or less, just struggling to survive. The weirdest thing is, when I did file my taxes I would always end up owing money...... I went years upon years, always owing and paying back. It breaks my heart as an honest tax payer, who pays my part and always have, that I have been paying back for years, and the rich with millions get to pull scams like these and nothing happens to them...... it's because of scams like these why so many people quit their jobs and decide to live on social assistance - for some reason the government only goes after poor people, who cannot afford high powered lawyers, while the rich get to pull as many scams as they want, yet, they go unpunished. Canada is subsidized by the poor for the benefit of the rich. We the poor are the ones who pay the police to harass us- we the poor we pay for the roads, that the rich could speed on and not get ticketed.....We the poor are the back bone of the Canadian economy.
Defensive weapons, like the Police and Military controlled or "governed" by the Law, are always turned against those unable to defend themselves. If power exists it gets used, that's the lessons of History restated every day.
"The easiest person to fool is yourself ", so either adopt the principle of self-management and defence, starting from scratch with your own responsibility, or expect to be fooled into thinking that a "Representative" can do it for you when there's no transparency about what actual representation means.
I used to believe Democracy was like a generalization of trusting parents to protect us, but have only recently realised that, in principle, it's the net sum of all individuals, democratic or not.
The reason you owed money could be due to lack of tax knowledge. You could've been missing out on benefits you were entitled to. Therefore going to a good accountant or knowledgeable tax preparer is important. Don't depend on turbo tax, because you will surely miss out on tax savings.
- Your Friendly neighborhood Bookkeeper / Tax Preparer
Imagine what nations could accomp!ish in mediical research, health care, new infrastructure and childhood education without tax evasion. Same companies like to play "we'll match your contribution." The latter two make doing business feasible using taxes.
Simple matter of it is easier and cheaper to chase average Canadians than the ones who can afford lawyers. But please remember that this is over 6 years in the making which means the Conservative government started it and The Liberals are too gutless to pursue it.
What? What does that have to do with me. Trudeau is not a progressive, he is a Liberal. He will always talk from both sides of his mouth.
His handlinf of Bill Morneau, and ams sales to LGBT-friendly Saudi Arabia show his true colours.
Absolutely discusting! If the committee couldn't investigate without jeopardising the Court Case, then they should have had the RCMP do the investigation with a view to laying charges after the Court rendered its decision.Anew investigation needs to take place. This cannot be allowed to stand!
The newspapers are owned by rich people who are allowed to fiddle their taxes in return for printing lies to support the plutocrat political parties. Democrat, Republican, Tory, Canadian 'Liberal' and New Labour all benefit from rich newspaper owners lying to the rest of us. Trust your newspaper: trust your robber.
Yet i know of a young mother who had her child tax taken away on her . do to her children's father not filing his taxes , all he was was working part time as a cab driver . And the mother was living with her mom , But get this . she is on disability .but neither parent ever made money as these people do . Why do they hit the poorer people letting the wealthy dogs walk free . they really have their wires crossed the wrong way. this is not only wrong but evil done to on the poorer people
I made $320,000 in 4 years and was taxed approximately $150,000. I lost my job and I recieved $970.00 every 2 weeks for 46 months and then shut off completely. The government should be charged for lack of compassion.
You received 1940.00 a month for almost 5 years and you call your government uncompassionate! That is really crazy! First you would have never gotten that in the 🇺🇸! Second who ever said you are supposed to get back every dime that you pay into the government via taxes? It is not the governments' job to hold onto the taxes that you pay into government until you are ready to go and get that money; governments are actually supposed to use the tax money to pay for the services the population is using at that time in the present and the people employed to provide those services.
I was injured by faulty equipment worn out beyond repair with no investigation and totally screwed over by a corrupt WCB system with WCB doctors medical opinions contradicting my specialists when they had no training of any kind on how to treat my issues and never seen any of my medical specialist's reports. Screwed for life with no pension or wageloss and no retraining. To top that off WCB invests billions into Canadian companies every year, take from small business and invest in the large businesses that were billed earlier in the year for injury costs, now is that not a conflict of information? Our leaders are in politics for their own benefit as when they leave office they will be paid dearly to join the boards of huge companies they represented while in office. GREED
The people at the top of this scheme are dirty. Nothng will wash that money clean. Basically it is theft from the community. They have no place in Canada any longer. Exile is one answer. Exile without the money.
Wow, KPMG and our fellow Canadian tax-dodgers sure got a sweet deal here in Canada, Wayne Easter and the CRA and the Prime Minister really let us all down and let the crooks off scott free! Can you imagine that? The tax-dodgers were offered no penalties and complete amnesty if they came forward, no charges! What?!
They sure were lucky they were dealing with our lightweights and not the heavies down in the USA. This just sickens me to no end, what a bunch of dullards we have here in Canada, they all need to hang their heads in shame.
MsBeautifulRed : Brad Wall is a narrow-minded ideologue. Britain is still suffering from Thatcher selling off public assets. Everytime somebody rides british rail, the Dutch government gets a profit. The british government does not. All electricity sold in Britain is sold by foreign companies. 100%.
Brad Wall put in government cuts when oil prices dropped. Cut backs in tough times... & Saskatchewan's economy is doing much worse than in Alberta. Alberta has invested & raised spending in tough times. Brad Wall is resigning. Looks like his "Free Market" , " Small government" thinking isn't so wise after all.
If they speak at all, ALL of these tax dodgers lie...then when caught in said lies...they change the story.... Just try that if you wind up in jail for stealing food for your children because you're poor and can't find a job....see how far lies and changing your story over and over gets you. Some things never change.
Do you want to drive your fancy cars on good roads, across safe bridges, children raised in safe cities, where fire trucks arrive when called, police walk a beat, military stand at the ready to fight for your country, schools are funded, arts are funded? I don't get why people are so goddamned determined to avoid taxes. Where do they think the money goes? I get not wanting to pay for some of the idiots making laws, but that's what your vote is for. The world is bonkers.
Some of them do it because they understand that governments don't actually need tax income to pay for the things the nation needs, they can pay for them out of thin air just like the banks make loans out of thin air (and if you think banks make loans out of the money people have deposited/invested there you need to educate yourself). Others don't understand that of course and just avoid taxes because they are mean spirited and expect the rest of their countrymen to pick up the tab for them. But in reality ... taxes are an instrument governments use to control the economy, not a means of income from which they pay the bills, even though they sell it to the public that way.
Leo Elshof - media businessmen are the biggest tax avoiders in the world! They are the ones who are billionaires/multi-billionaires after all- far wealthier than any KPMG accountant (or any other financial services type). There is nothing media businesses won't do for money! The Media Mafia lie/manipulate/mislead 24 hours per day- working to their own corporate agenda!
I REALLY LOVE THIS DOCUMENTARIES OR CRIME SHOWS...BUT THERE'S SOMETHING HERE I DON'T UNDERSTAND.. SO FAR IN ALL THE EPISODES THE ENDING IS CUT SHORT.. IT JUST STOP AT THE END WITHOUT SOME MORE INFO OF WHAT HAPPENED AT THE END.. I WONDER WHY?.. BESIDES THAT I THINK IS ONE OF THE BEST CRIME TV SHOWS ..STILL,WHY THERE CUT SHORT BOTHER ME...ANYONE?
For the last 40 years, the Canadian government have lost over $500 billion from wealthy Canadians not paying their fair share of taxes. Here is the kicker, the Canadian government gave KPMG $92 million dollar of taxpayers money while KPMG were helping wealthy Canadians to evade paying taxes.
Bobby Bobby, same in Britain. We legally bound to suppourt these wealthy elites while they live off hard working folks who see no financial stability for our futures while these gits hide money and sponge off company profits, bully family start ups into bankruptcy. I say enough is enough. these "elite" laze abouts our us some serious tax!
It may surprise you to know that not everyone who invents something or makes a company does it for the sole purpose of getting rich. Many inventions arrive because someone had a problem and finds a solution that they believe others can benefit from. Some companies are formed because it is an efficient way of doing business with friends. Of course they do intend to make money out of the company but they don't necessarily plan to get rich.
Tami couldn't have put this into better words myself! Agree agree agree!!!!! Lets hope something happens and the rich & greedy's wealth collapses somehow. This is thoroughly corrupt. And it's only getting worse as the poor get more poor, the rich even more rich.
Evil exists. It is real and palpable. You see it in the news every single day. Ethics and morals matter in any vibrant society. Let the criminals run things and it will soon affect you and yours. You are living in a bubble.
You are living in a dream world. The criminals and mob bosses are already in control worldwide because of this out dated theory. The self regulation of true capitalism is only for morons who think they won't be affected by this level of corruption. I hope you like working for your slave owner because that is where so called true capitalism ends up. You are living in a fantasy world.
lol I love how cbc makes these accountants sound like some kind of master of the universe. Accountants at these big 4 firms are total losers with no career prospects other than a lifetime of cubicle work reconciling numbers
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