Category: Price Waterhouse Coopers

US Foreign portfolio investors ask India to amend capital gains tax treaty

Foreign portfolio investors based out of the US have collectively approached the India with a request to amend the India-US tax treaty, exempting them from paying capital gains tax , people close to the development said. These investors — mainly pension funds —are those who had invested in Indian equities...

The Big Four divided over FATCA interpretation in Russia – report

MOSCOW, December 8 (RAPSI) – The world’s four largest audit firms, which provide services under the FATCA norms, have provided contradictory consultations to their Russian clients, Kommersant newspaper writes on Monday. The Big Four are the four largest international professional services networks, offering audit, assurance, tax, consulting, advisory, actuarial, corporate...

Margaret Hodge to grill PwC and Shire over tax avoidance in Public Accounts Committee

The accountant PricewaterhouseCoopers and drugs giant Shire are due face a tense parliamentary showdown over tax avoidance with an angered Margaret Hodge today. PwC’s head of tax, Kevin Nicholson, was summoned to face Ms Hodge’s powerful Public Accounts Committee following reports last month that multinational corporations advised by PwC Luxembourg...

Tax Avoidance: The LuxLeaks Scandal Explained

On November 6th, 2014, the ICIJ journalists’ network revealed its investigation into leaked documents from professional services firm PricewaterhouseCoopers. Their analysis shows that over 340 multinational companies use schemes to avoid paying taxes – schemes made possible by Luxembourg’s particularly favourable tax laws. How did the ICIJ work together on...

PriceWaterhouseCoopers chief Kevin Nicholson denies lying over tax deals

Nicholson stands by previous testimony to MPs, as accountants are accused of mass-marketing tax avoidance schemes The head of tax at one of the UK’s top accounting groups was accused of lying to parliament about his firm’s role in devising controversial tax deals for clients in Luxembourg. Kevin Nicholson, PwC...

Luxembourg: a tax haven by any other name? Professor on ‘secret’ tax deals

The revelations that global and multinational businesses have been brokering “secret” tax deals with Luxembourg to avoid paying taxes in their home countries, may be the first time an entire country has been implicated in tax avoidance collusion. A cache of leaked agreements uncovered by the International Consortium of Investigative...

MPs summon PwC tax chief to attend Luxembourg tax deal hearing

Public accounts committee will demand intricate details from Kevin Nicholson about tax avoiding schemes in Grand Duchy One of Britain’s top tax advisers at PricewaterhouseCoopers has been summoned to give evidence before MPs in the wake of revelations about controversial tax deals for PwC clients in Luxembourg. Kevin Nicholson, PwC...

PwC in secret tax deals while advising ATO

NEIL CHENOWETH Global accounting firm PwC was advising the Australian Taxation Office how to run its transfer pricing unit at the same time that its Luxembourg office was cutting favourable tax agreements for Australian companies. Luxembourg documents show PwC obtained secret tax agreements for more than 30 Australian companies in...

Nokia India, Finnish parent discuss tax evasion in emails

The department had slapped a tax demand of Rs 2,080 crore on the company last year while re-opening the assessment for AY 2006-07 and 2007-08. As Finnish phone-maker Nokia strives to meet the April 30 deadline for sealing the $7.2 billion deal with Microsoft, its tussle with the Indian tax...