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PwC tax advice under spotlight after Luxembourg leaks

By Neasa MacErlean

06 November 2014 at 07:41 BST

Leaks relating to tax arrangements for 340 multinationals, many of them tax clients of PwC, have produced angry responses from the Big Four accountancy giant.


PwC said that questions put to it by journalists were based on ‘outdated’ and ‘stolen’ information, ‘the theft of which is in the hands of the relevant authorities’. The documents relate to tax arrangements for Heinz, JP Morgan, Pepsi and many other household names. UK manufacturer Dyson, for instance, saved ‘millions in tax’, paying 1% in Luxembourg on some of its activities. 


Stephen Shay, a law professor at Harvard, described Luxembourg as being ‘like a magical fairyland’. Source: The Guardian


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