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It is outrageous enough that wealthy clients got off with a slight reprimand. KPMG has, so far, paid no price for their role. The committee let Canadians down by not recommending a full investigation into this case and laying charges against KPMG if the evidence warrants it. And Canadians are right to keep demanding one.
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Premier Christy Clark has already taken off the table the one thing that leaves Canada's three other public auto insurers in decent financial shape: no-fault insurance. Makes one wonder who is so strongly opposed to the idea? Likely, a group that does well with the current regime. Lawyers spring to mind.
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One would be hard-pressed to find a single government forecast for the Sea-to-Sky highway project ($195 million over its first estimate), the Port Mann or the South Fraser Perimeter Road that has been met.
There is no doubt that fighting tax evasion and aggressive tax avoidance will mean confronting very powerful interests who will push back with a large arsenal of resources, from public relations to lawsuits. We, as parliamentarians, cannot be intimidated.
How did B.C. end up in the peculiar situation of having to rely on the private sector to oversee private sector construction companies working on public sector infrastructure projects, potentially signing off on billions of tax dollars in cost overruns along the way?
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Last April, the International Consortium of Investigative Journalists revealed the "Panama Papers" scandal, a database of 11.5 million documents leaked from the Panamanian law firm Mossack Fonseca. T...
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Liberal and Conservative members of the Finance Committee seem to have little appetite to pursue the matter any further and the committee will release its report this fall, and will move on to something else. As long as politicians will be timid and fearful of using their power, Canadians have little hope of seeing the issue of tax evasion or aggressive tax avoidance being addressed seriously by their politicians.
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Nobody likes to pay taxes. However, the pill is easier to swallow when everyone pays their fair share. It's increasingly clear that in Canada -- and in most industrialized countries -- many are not. We have a two-tier system where the wealthy and the corporations can escape their obligations, and the rest of us can't.
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Another vacancy in a public boardroom and another B.C. Liberal party supporter ready and willing to fill it. News that Frank Carson -- a partner at Victoria law firm Cox, Taylor -- was appointed chair of B.C. Transit's board of directors last week was met with the expected cynicism.
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The B.C. government has placed two bets over the Site C project: one that B.C. Hydro can keep construction costs to $8.8 billion, and, two, that it can find customers for the power. Left to cover the ante? Taxpayers.
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KPMG's actions "affect the public perception of the chartered professional accountancy profession as a whole."
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Alberta has low income tax rates. Other provinces, not so much.
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Just thumb through the party's 2009 donor list for a sense of how widespread the practice of awarding contracts to friends has become. Back then, someone must have woke up on New Year's Day with one hell of a hangover -- not from the night before -- but from the bank balance in the B.C. Liberal party's account.
The Liberals' primary planned revenue generator is the increased tax rate for Canadians in the upper income tax bracket but it's coupled with a one-and-a-half percent cut for middle income earners. They originally claimed that these measures taken together would add $3 billion to the federal coffers. However, they're already backing away from that rosy prediction.