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Article

9 Feb 2015

Author:
Svenja O’Donnell, Bloomberg

UK: Parliamentary panel accuses PricewaterhouseCoopers of promoting tax avoidance by multinationals; company denies allegations

"U.K. Lawmakers Accuse PwC of Promoting Multinational Tax Dodges", 6 Feb 2015

A U.K. parliamentary panel accused PricewaterhouseCoopers LLP of promoting tax avoidance by multinational companies..."We believe that PricewaterhouseCoopers's activities represent nothing short of the promotion of tax avoidance on an industrial scale," Public Accounts Committee Chairwoman Margaret Hodge said in a statement Friday. Unless Her Majesty's Revenue & Customs "takes urgent action, this irresponsible activity will go unchecked, causing harm to both the public finances and the reputations of the companies involved," she said...PwC rejected Hodge's claims it had misled lawmakers about its activities, though it agreed the tax system was "too complex" and said it would continue to support its reform...[Also refers to Apple, Google, Starbucks]