PWC – promoting secrecy

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The FT reported yesterday that, when referring to the change in behaviour forced on tax havens by the EU and OECD that:

Leonie Kerswill, a tax director at PricewaterhouseCoopers, says in spite of these changes: "There are still a lot of sophisticated financial centres that people can use if they don't want to disclose anything."

You can bet there are. And you can bet that PWC is doing all it can to ensure that this remains the case. And that you'll find them in all the places where this is true. Just look at pages 128 - 130 of Closing the Floodgates.

No wonder that as the biggest firm of accountants I think they're also one of the biggest threats to democracy world wide. Without tax democratic government cannot exist. Without tax compliant behaviour by all, and especially the wealthy in a society the rule of law begins to break down. Democracy fails when the rule of law fails. Promoting tax secrecy allows tax evasion. This undermines the rule of law, erodes tax compliant behaviour and so threatens democracy itself.

Think about it PWC.