Deloitte have become one of the most outspoken opponents of tax reform. They don't want change to the permanent establishment rules. They're implacably opposed to country-by-country reporting. And no wonder. As the FT reported today:
Strong demand for its consultants and auditors helped the UK arm of Deloitte post an 8 per cent increase in annual sales, although its partners nevertheless suffered a slight dip in their average take-home profit.
The UK’s second-biggest auditor and consultant by fee income posted sales of £2.51bn for the year to May 31, up from £2.33bn a year earlier.The firm’s consulting arm recorded a 14 per cent increase in sales for the second consecutive year, taking its contribution to the overall sales figure to £596m.
David Sproul, chief executive and senior partner, said its consulting business benefited from rising demand for assistance on digital matters, data analytics and cyber security.
When an average partner makes £772,000 a year from keeping the tech industry happy are you surprised they might oppose tax reform? No, me neither.