Oligarchs of the Treasure Islands

Michael West
11 July 2016

The “Big Four” global accounting firms – PwC, Deloitte, KPMG and Ernst & Young – are the masterminds of multinational tax avoidance and the architects of tax schemes which cost governments and their taxpayers an estimated $US1 trillion a year, according to an Australian taxation expert.

The controversial new claims have been made by George Rozvany, Australia’s most published author on transfer pricing, one of the principal ways in which large corporations pursue cross-border tax avoidance.

Mr Rozvany says the Big Four have strayed from their original role of verifying the accuracy of financial accounts to become “accountants of fortune” who “develop aggressive international tax avoidance practices”.

> Read more at http://thenewdaily.com.au/money/2016/07/11/architects-global-tax-avoidance-revealed/