BIG FOUR to appear before UK PAC

By Vijay Kumar

BIG FOUR tax partners will appear before the British Public Accounts Committee in its investigations into tax avoidance. Witnesses from PwC, Deloitte, KPMG and Ernst & Young will appear on 31 January before the Committee.

Last year, the committee had condemned multinational companies for using transfer pricing arrangements to drastically reduce their UK tax, and also found fault with the HM Revenue & Customs for not taking sufficiently aggressive action to assess and collect the appropriate amount of corporation tax from these multinationals.

The Committee told the HM Revenue & Customs, “the taxman must ensure big businesses do not get away with dramatically reducing their UK corporation tax payments through the use of complex tax avoidance arrangements”.