Thank you, Mr. Chair, and thank you, sir, for coming today.
This essentially is about tax fairness and the perception that all Canadians who make income should pay their fair share.
Our Prime Minister has publicly stated that the international community has to work together to make global finance more transparent, to prevent the sort of inequality highlighted by the Isle of Man and the Panama papers. Our government is committed in the budget to increase CRA's budget by $440 million.
Would it be appropriate to say that KPMG stands to profit a great deal on such tax avoidance mechanisms? You mentioned earlier that the firm made $1.6 million on implementing these 16 Isle of Man tax avoidance structures.
How much of that money was returned because this structure ultimately did not work in the best interests of your clients?