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June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee The associates still have a certain amount of autonomy. The risk management committee will not be asked to evaluate a contribution to a registered retirement savings plan, for example. However, in terms of tax planning, a detailed analysis is conducted to determine compliance w
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee First, let's make one thing clear: KPMG does not engage or participate in transactions that could be considered tax evasion. In short, tax evasion is deliberately ignoring the law. So you ignore the test of the law. KPMG is not involved in tax evasion. However, tax avoidance, n
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee KPMG did an overall assessment and stopped offering those products in 2002, 2003 or 2004. In fact, the decision was the firm's, not the local office in Montreal. That's why I hesitated. That decision was made by the firm on a national basis.
June 17th, 2021Committee meeting
Serge Bilodeau
June 17th, 2021Committee meeting
Serge Bilodeau
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee It would be difficult for me to give you the reasons for that decision, because I was not part of the committee that made the decision to no longer recommend the structure.
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee As I mentioned, I am not familiar with the Cinar affair, except that I was informed about it by the firm. I imagine that requests were made to the firm. Some of my former colleagues at the national level asked me if I had heard of this company and I told them that I did not know
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee My colleagues did not comment on what was going on in the office. My former colleague mentioned to you what was happening with the famous situation between Cinar and KPMG. I would imagine that, when the request was made to KPMG Canada, they took it seriously and investigated to
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee Yes, good afternoon.
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee Yes, can you hear me?
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee Yes, I can hear you fine.
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee I can hear very well.
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee Actually, the product, what we call OCS planning, that is to say the foreign company structure, was offered on a national basis, not only in Montreal. However, in terms of my responsibility to the clients, my involvement in both situations was from Montreal.
June 17th, 2021Committee meeting
Serge Bilodeau
Finance committee The planning was developed by a group of senior tax experts, led by a man named Barrie Philp, and it was developed on a national level. The analysis was done on a national level. Then it was explained locally, in each of the provinces. When the situation was appropriate, it was d
June 17th, 2021Committee meeting
Serge Bilodeau