Accounting giant KPMG defends Isle of Man tax practices before House committee

, Canada

Speaking in the wake of both the Isle of Man reports and the Panama Papers, KPMG said the public has come to question the fairness of global tax systems.

OTTAWA — A senior partner in the global accounting giant KPMG, which has been accused of being behind a tax avoidance scheme in the Isle of Man, says a lot of international tax rules “are broken” — and they need to be fixed. 

Gregory Wiebe, speaking before the House of Commons finance committee on Tuesday, addressed concerns about the “disconnects” between Canada’s tax system and those Canadians may encounter elsewhere. Speaking in the wake of both the Isle of Man reports and the “Panama Papers” revelations, Wiebe said the public has come to question the fairness of global tax systems.

“The tax system is pretty good in Canada, it’s maybe O.K. around the world, but it’s got a long way to go before it gets that trust back, into it, frankly,” Wiebe told members of parliament.

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