KPMG and Tax Havens for the Rich : The Untouchables - the fifth estate


A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world KPMG Canada devised what it called an “Offshore Company Structure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it. In the U.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency. A federal government inquiry vowing to get to the bottom of it went nowhere What was the accounting firm trying to hide? With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man offshore tax haven, we expose the details of the scheme and unveil the names of some of the wealthy clients. A joint investigation by the fifth estate and Radio-Canada’s Enquete program --- Subscribe for more videos from the fifth estate : /> Connect with the fifth estate online : Website : />Facebook : />Twitter : />Instagram : /> About the fifth estate : For four decades the fifth estate has been Canada's premier investigative documentary program. Hosts Bob McKeown, Gillian Findlay and Mark Kelley continue a tradition of provocative and fearless journalism. the fifth estate brings in-depth investigations that matter to Canadians – delivering a dazzling parade of political leaders, controversial characters and ordinary people whose lives were touched by triumph or tragedy.



A M Mirza
Lol. do you think that just kpmg was doing that.
GetSwingIN
One of the best pieces the Fifth Estate has done in a while! Excellent! Thank you!
George
RCMP has to investigate KPMG, and CRA. Fifth Estate should continue to follow this story.
Leo Elshof
Investigative programs like this are one of the few remaining tools that citizens have to shine a light on corporate and government corruption, well done Fifth Estate!
MidnightVisions
Isn't is bloody obvious, somebody on the committee has money invested in KPMG and is stalling the investigation.
Awakening His Walking Dead Isaiah 60:1
This has been going on for years now, I'm so ashamed. I have been audited numerous times by CRA, when I was in high school and college, making only about $15,000/year or less, just struggling to survive. The weirdest thing is, when I did file my taxes I would always end up owing money...... I went years upon years, always owing and paying back. It breaks my heart as an honest tax payer, who pays my part and always have, that I have been paying back for years, and the rich with millions get to pull scams like these and nothing happens to them...... it's because of scams like these why so many people quit their jobs and decide to live on social assistance - for some reason the government only goes after poor people, who cannot afford high powered lawyers, while the rich get to pull as many scams as they want, yet, they go unpunished. Canada is subsidized by the poor for the benefit of the rich. We the poor are the ones who pay the police to harass us- we the poor we pay for the roads, that the rich could speed on and not get ticketed.....We the poor are the back bone of the Canadian economy.
hhiippiittyy
Until people go to jail it will continue.
Dunning Kruger
And we have to live off food banks and struggle for years and years.
Damien Holland
Rich people with no morals are pretty much why every single economic system in the world is a cruel joke for 90% of the population.
Runner Jogger
Its ok we poorer people will pay your taxes for you.
shelleypoco
"The difference between tax avoidance and tax evasion is the thickness of a prison wall." - Denis Healy, Former British Chancellor of the Exchequer.
Doug mac neill
Absolutely discusting! If the committee couldn't investigate without jeopardising the Court Case, then they should have had the RCMP do the investigation with a view to laying charges after the Court rendered its decision.Anew investigation needs to take place. This cannot be allowed to stand!
Big Bearn
Put the IRS in prison and those politicians who concocted tax laws to feed the banksters.
hhiippiittyy
Sounds very Marxist, but so much capital in so few hands breeds disorder.
Daniel Young
THIS IS STILL GOING ON!!!HSBC, TD TRUST, BMO, RBC ETC. ALL CROOKED ALL CANADIAN ALL TAX CHEATING CRIMINALS CRA NOT DOING THE JOB RCMP OVER WHELMED an the beat goes on sadly.....
Apt215 Melissa Brown
Let an average Canadian citizen welch on $300 bucks. He'll never get away with it - probably jail time and penalties.
Cid B.
How many of those guys in Congress were sweating, I wonder.
dougat
The G stands for greeeaaasssyyy!
evelynjoyce
Filthy rich people evading taxes should not only have to pay back every dime with interest, they should lose their citizenship. Don't want to contribute? There's the door.
Nelson Gonzalez
I disagree with canadian forced divorce law, compltely. It's unfair!
Tami C
This is the basics of global capitalism in its current form. Seriously flawed and WRONG! Greed and corruption are at its foundation. Truly terrible.
SPPV
At least BC had the balls to hit KPMG when they cooked the books to hide Joe Leong stealing money from the BC Historical Society. Accountants and Joe charged and convicted and KPMG fined
Jan Marchand
Time to clean house!
Bunny The Bear
Well come on... If you're rich enough you cann even get away with murder. Money really does hold a lot of power.
mike wright
ROTTEN TO THE CORE, ALL OF EM.
Philanthropest 007
so the rich want our tax dollars to pave the roads for their Ferrari....nice...tax evasion...jail!!!
John King
The newspapers are owned by rich people who are allowed to fiddle their taxes in return for printing lies to support the plutocrat political parties. Democrat, Republican, Tory, Canadian 'Liberal' and New Labour all benefit from rich newspaper owners lying to the rest of us. Trust your newspaper: trust your robber.
Bedazzle Juju
Do you want to drive your fancy cars on good roads, across safe bridges, children raised in safe cities, where fire trucks arrive when called, police walk a beat, military stand at the ready to fight for your country, schools are funded, arts are funded? I don't get why people are so goddamned determined to avoid taxes. Where do they think the money goes? I get not wanting to pay for some of the idiots making laws, but that's what your vote is for. The world is bonkers.
Ofelia Garcia
Rich will gonna be rich coz they don't pay proper taxes.
Tamuno-Opubo Cookey-Gam
Justin Trudeau is a trust fund boy who will protect other trust fund boys & girls.
Awakening His Walking Dead Isaiah 60:1
The judges, the lawyers, the scammers, the rich dirt bags, and politicians - they are all on the same team, we the poor are the suckers.
Stella Blevins
Just as many crooks in Canada as In US Don't pay Taxes & penalties .Bad As orange slug 🐌
1justpara
Ahhhhhhhh, the rich and the corrupt. One and the same.  If I have nothing, I lose nothing.  How wonderful when they who have all lose all.  JESUS IS COMING.  "Again I say, it is easier for a camel to go through the eye of a needle than for a rich person to enter into the kingdom of God." Mat 19:24
susan gaik
Do not patronize GreatClips or SportClips for hair care.
MsBeautifulRed
Why is the Saskatchewan government using this company to get rid of crown assets in the province? Why is nobody sounding the alarm over this?
D.j. B
When the commity is complicit & allows fraud, they are just as guilty!!! American government does this same stuff, one law for the wealthy & a 2nd set of law's for the little people=FRAUD!!!!
geoff washington
All the tax havens are City of London jurisdictions and the detriment to society is easily worth it for the kleptocrat class so they can suck the resources out of third world nations
jay muir
The Last Real Investigation Show. Non bias Truth. All My Life I've been Watching.
Nelson Gonzalez
In order to get divorced, you need mutual consent from both parties involved.
Cris Aviles
this channel is great, deserves more subs, views and likes.
C Liverpoolboy01
Politicians, are in the pockets of KPMG? KPMG said jump the chairman said how high?
Ali La Pointe
KPMG are a dirty organization and its disgusting that our Government punishes working fathers and mothers who miss 500 bucks of tax payments but these criminals dont pay hundreds of thousands and its forgive and forget. God bless that guy going after the wealthy. And Trudeau should be prosecuted for not taking action.
Ramon Dominguez B.
this canadian female accountant....if you don't pay alimoney you forgot about ethics...seriously!
S Preston
I bet the guy that she interviewed last his name is on one of those companys.
Michael McPhillips
If Stephanie Henderson could not identify her signature was she saying she knew nothing about the Isle of Man deal and if Wayne Easter was appointed to enquire into it how was he forbidden to do so on any point of it implying that someone else other than the government appointee was controlling his enquiry?
Phlegethon
lol I love how cbc makes these accountants sound like some kind of master of the universe. Accountants at these big 4 firms are total losers with no career prospects other than a lifetime of cubicle work reconciling numbers
Dissident Wolverine
This whole episode is a shame on the government of Canada working with criminals - KPMG
Luxus Häuser
These things happen because of the system of regulation and will always be circumvented.
Barb Kueber
"In this case, Chief Justice Noël and Justice Pelletier indicated that KPMG is not a party to disputes before the Tax Court of Canada. KMPG’s clients are. Furthermore, no dispute involving KPMG is or was pending before the Federal Court of Appeal in the days or months preceding the conference. Consequently, any suggestion of conflict of interest that would approach misconduct must be dismissed. For these reasons, Chief Justice MacDonald is of the opinion that your complaint against Justice Pelletier does not warrant further consideration. Justice Bocock Also according to the report, Justice Bocock attended a cocktail organized by the law firm Dentons, while he was the judge responsible for managing the case [TRANSLATION] “relating to KPMG’s scheme and the Cooper family of Victoria,” on appeal before the Tax Court of Canada." https://www.cjc-ccm.gc.ca/cmslib/general/News%20Releases/2017-07-20/2017-07-19%20Disposition%20Letter.pdf
Matthew Weatherman
This story would never fly in a Thai Massage parlor..... No happy ending. Good story though.
Victoria Godley
Shut down KPMG immediately, they are perpetuating criminality on a vast scale which should be investigated thoroughly. Close down all tax havens now!
m.youtube.com
where are the police officers
Charles Balliet
19:27 and I didn't think it was necessary to be more forceful aka he got a payout #boughtoff
Todd Bacon
I made $320,000 in 4 years and was taxed approximately $150,000. I lost my job and I recieved $970.00 every 2 weeks for 46 months and then shut off completely. The government should be charged for lack of compassion.
Raul Benitez
A bright future for BITCOIN which is the best performer asset among different markets is approaching. You as an investor must have at least a fraction of bitcoin in your portfolio Do not sell your BITCOIN just yet, let it grow in value
Mona Al
Too rich to go to jail. There is no left o right they are all robbing us Wake up
Daniel Young
SNC-LAVALIN NOT 1ST CASE TO BE "STAYED" IN THIS CURRENT GOVERNMENT. MORE THINGS CHANGE MORE THEY STAYED?
Joe Rivers
I REALLY LOVE THIS DOCUMENTARIES OR CRIME SHOWS...BUT THERE'S SOMETHING HERE I DON'T UNDERSTAND.. SO FAR IN ALL THE EPISODES  THE ENDING IS CUT SHORT.. IT JUST STOP AT THE END WITHOUT SOME MORE INFO OF WHAT HAPPENED AT THE END.. I WONDER WHY?.. BESIDES THAT I THINK IS ONE OF THE BEST CRIME TV SHOWS  ..STILL,WHY THERE CUT SHORT BOTHER ME...ANYONE?
Love
He wanted to commit a tax crime but because he lost his $ before he could commit the crime he wants the fee back? No I do not think so! Canada's rich& wealthy just as bad as 🇺🇸 rich& wealthy; they never want to pay the taxes they know will help their country& fellow citizens yet always want people to financially help them out⁉ The money people paid to get into this tax fraud+ the part of taxes they did not pay to Canada but yet paid to kpmg to help commit this tax fraud is taxes but instead of the money being paid to Canada the money got paid into kpmg; but trust when the rich& wealthy get sick they will utilize the socialize care that you'll have in Canada that they do not want to pay the taxes in order to maintain😥
Bobby Bobby
For the last 40 years, the Canadian government have lost over $500 billion from wealthy Canadians not paying their fair share of taxes. Here is the kicker, the Canadian government gave KPMG $92 million dollar of taxpayers money while KPMG were helping wealthy Canadians to evade paying taxes.
Ralph Killoran
Mike Duffy, Wayne Ester. Has a honest political ever From PEI gone to Ottawa?
JAYROCK
Harper cons hired KPMG to work with the CRA. I'd investigate Harper!
RAIN MAYHEM
Nothing new here the rich get away with breaking the law
Kay. M
Now, they've contributed to the corruption in South Africa.
Adam Baum
The question should be, why does the government deserve our money? I guess many people enjoy being a tax slave.
Richard
this could be one of the reasons the UK is getting out of the EU as new tax avoidance and transparency laws for shell company's are coming in or were
SVS
they should have formed another bs company
Bender Bending Rodriguez
so KPMG is my future.
Safa Safa
Tax havens oh ma godo, they can play with gov but then they are caught by international investigationS. waste of time, once caught, everything gone, pay tax but let gov spend it wisely
e2e4au
This is a World wide issue that will NEVER EVER be stopped. Simply put there is to much money involved and very influential entities in control of the process. Any investigation hype is just that hype (hot air) and nothing more - everyone knows it !!!
Jake Wish
Why is that companies do things in the U.S. and get punished but in Canada they get away with it!
CT!
"Raise the visibility" (25:24-25) of what the company is doing. This is focusing on the tax fraud but how are they manipulating the many audits they provide? On a side note, I am also wondering why Mr. Easter is repeatedly fiddling with his fingers, so much, as he discussed this issue a foot away from the hostess? Interesting. I'll refrain. ;-)!!!
Danielle Folsom
It's sort of comforting to see that Canadian politicians are just as slimy & pathetic as the ones we have in the US.
Jon Sm
that minister guy was probably bribed by kpmg, has an interest in the scheme (ie he himself invested or has close family members who did), or was pressured by someone higher up with aligned interests with kpmg. you all know who im talking about.
Marten Dekker
10:15 "They fought us tooth & nail. " ARREST THEIR ASSES. IMMEDIATELY.
skattan
Prime Minister Justin Trudeau violated his own conflict of interest guidelines with the appointment in June 2016 of John Herhalt, the national "public sector leader" for accounting firm KPMG, as treasurer of the Liberal Party. That appointment came the same month that a Liberal-dominated parliamentary committee halted its investigation into KPMG's offshore tax dodge in the Isle of Man.
stephane chretien
Rich have a different legal system
Apt215 Melissa Brown
Imagine what nations could accomp!ish in mediical research, health care, new infrastructure and childhood education without tax evasion. Same companies like to play "we'll match your contribution." The latter two make doing business feasible using taxes.
Aspen
I was planning to apply to this firm for their internship only to find out they are guilty of fraud before lol. This is interesting
Mel Holmes
I worked for them as an admin assistant. One of the worst jobs of my life.
Joseph Nagle
Crooks rule. OK. Everywhere is the same.
SJ McN
The entire western world is corrupt to the core with the wealthy standing on the backs of hard working citizens in every country. Until the tax cheats are behind bars this will continue. This is why far right and far left parties are kicking out the willfully blind centrist parties around the world. Totally disgusting -- and reports like these are just the tip of the iceberg.
Nestor Jr. Abalos
this is not just kpmg, most accounting firms are doing it. this is unfair to kpmg
Bill Carson
Gee, I wish I earned enough cash to become a client of KPMG and not have to pay any tax !
Stephen Cotton
If the government committee stops questions concerning KPMG, then one might conclude that some of the committee members were involved in the tax evasion schemes?
Sayit AsItIs
Ethics are for the little people, but not for someone of my social stature and importance.
purpl_e P_ink
Kpmg,they are in Trinidad and Tobago,now by the Savannah
PartiZAn18
I'm not going to watch the whole documentary, but if no mention is made about KPMG and the Guptas in South Africa then this would be very very poor journalism
Kenny the Clown
Interesting. Double standards.
Sa Eric
CANADIAN CORRUPTION
xt hydra
it should be illegal to give money...make an AI that gage the price of everything, to prevent money laundering and tax havens i might also add that the concept of "Gross domestic product" is flawed because the government doesn't value materials as a form of currency.
Ian Brown
All Senate hearings are legal circus acts. Pretending to look for the truth.
Death Larsen
And why should they pay taxes to pay salary for Trudeau and pay for illegals to movie into Canada for free?
The Equaliser
All these greedy Pigs should be jailed but unfortunately jail is for common people the wealthy are exempt
Peter Bradshaw
It is rude to ask someone a question and then answer it for the person. This journalist loves to do it and senator narcissist.
Paddy Ryan
Are they the same company who act as independent observer for the Irish Lottery ?.
mlggolisopod z
Yoshi VS IRS
Daniel Young
SO  HOW  COME  THEY  COULD  NEVER BUY  A  STANLEY  CUP?
Anna Warner
KPMG is still alive and well. Nothing really happened in US, even though it was criminal.
Insanis Stultitia
After decades of knowing the rich hide their money in offshore accounts nothing has been done to prevent it. We need to see head go to jail and states confiscated on live TV.