KPMG in the UK has published a set of principles which govern the tax advice the firm provides to its clients. The principles were first issued in 2004 and are regularly reviewed to ensure that they stay relevant and appropriate. They are available here. Commenting on the current public debate on tax, Jane McCormick, head of tax at KPMG in the UK, said: "We welcome the current debate on tax and seriousness with which parliament is looking at it.
The tax system is a fundamental element of the UK economy and underpins our civil society. "We support the government’s commitment to fairness and transparency on tax and to ensuring that the UK remains competitive on the global stage. “We believe that the tax profession and business must play a full and active part in the current debate on tax at both the national and international level. “The business community is actively discussing the issue of tax transparency and on how best to inform stakeholders, move the debate forwards and demonstrate the value generated by business. “Much has been said about the role of morals and ethics in tax. Our position is that tax should be charged according to law and not dictated purely by prevailing sentiment. But that’s not to discount the importance of the public interest in the debate.
In deciding how to organise their tax affairs, responsible companies do look beyond the strict letter of the law and take account of the interests of all their stakeholders including the wider society in which they operate. “Detailed discussions on tax are likely to continue for some considerable time at both a national and international level. We are looking forward to continuing to make a positive contribution to that debate.”
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For further information please contact: Margot Cowhig, KPMG Corporate Communications
T: 0207 694 4246
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KPMG Press Office: 0207 694 8773
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.