Wednesday 20 November 2019

Public prosecutor settles KPMG office tax evasion case

The public prosecution department has reached deal with accountancy firm KPMG about a fine for tax evasion in relation to the construction of its current head office in Amstelveen.

KPMG has agreed to pay a fine of €8m on top of repayment of the tax that it failed to pay, the public prosecution department said in a statement. Five people connected to the case will also face legal action, the department said.

Two former KPMG executives, a civil-law notary, the property developer with whom KPMG did business at the time and an indirect shareholder of the property company will face trial and the case will start on October 3.

The case dates back to 2009 to 2011 when KPMG II – a joint venture between KPMG and the owner of the land – saved itself a major tax bill by effectively deducting the cost of the new office in one go, rather than in installments.

It was also one of the incidents which led to the resignation of the company’s chairman in 2014.

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