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GOVERNMENTS AROUND THE WORLD

ARE SCRABBLING FOR SCARCE
CORPORATE TAXES

NOBODY wants to pay taxes. No

wonder, then, that so many companies
spend so much effort trying to avoid
them. Almost every big corporate
scandal of recent years, from Enron to
Parmalat, has involved tax-dodging in
one form or another.

In the latest revelation on January 26th,

Dick Thornburgh, the man appointed to look at
the collapse of WorldCom, released a report
claiming that, as well as the slew of other
crooked dealings of which the bankrupted
telecoms company is guilty, it also bilked the
Internal Revenue Service (IRS) of hundreds of
millions of dollars in taxes through a tax
shelter cooked up by KPMG, its auditor.

With a Foot in Every

Cellblock and a Hand
on Every File