UK report accuses PwC of tax avoidance on industrial scale

Associated Press ^ | Feb 6, 2015 9:53 AM EST | Danica Kirka

[Olog-hai]

A British parliamentary committee on Friday accused the accounting firm PwC of promoting tax avoidance on an industrial scale and urged the government to step in and do more to regulate the tax industry.

The Public Accounts Committee issued a scathing report, accusing PwC of mass-marketing tax avoidance plans and diverting profits to Luxembourg through intra-company loans.

“We believe that PwC's activities represent nothing short of the promotion of tax avoidance on an industrial scale,” committee chair Margaret Hodge said. “The effect has been to reduce the amount of corporation tax that some multinational companies pay in the countries in which they make their profits.” …

[Olog-hai]

The screaming socialists double down on their redefinition of tax avoidance as (somehow) tax evasion when it is not.

[eyeamok]

For every action, there is an equal and opposite reaction.

[GeronL]

are they accusing it of breaking any laws?