PwC partners accused of $28.4m worth of tax crimes

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Spain’s anti-corruption prosecutor accused 61 PricewaterhouseCoopers partners of committing tax crimes, saying they failed to declare a total of $28.4m in bonus payments.

Bloomberg reports that the PwC partners categorized the 2002 bonus payments as part of the price of the sale of a consulting division to IBM that carried a lower tax rate, the prosecutor said in an e-mailed statement Wednesday. The agency presented a written accusation requesting a criminal trial, according to the statement.

'The partners omitted to establish in their tax returns that the sums were payments from work', the prosecutor said.

PwC 'roundly denies' the accusations against its partners and is convinced that the case will be thrown out once the truth is recognized, the firm’s Madrid office said in an e-mailed statement Wednesday.

'There has been no concealment or fraud', PwC said. 'All the operations and amounts have been declared and formulated with all the legal requirements'.

To access the complete Bloomberg article hit the link below

61 PwC Partners Accused of Tax Crimes Over Bonuses in Spain

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