Word: kpmg
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Dates: during 2000-2009
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...than the tax rate when deciding where to set up shop. According to Marin, taxation ranked ninth, behind factors like market access and production costs. But she expects German jobs to keep heading east. "The past is a good indicator for the future," she says. Paul Barnes, COO of KPMG Tax Services for Central & Eastern Europe, is working with a Bavarian client who tells him only two things keep him from moving his factory to Poland: affinity for the town where his factory is based and the trade unions. "He says, 'If I just look at the economics...
...universal health care and proficiency at winter sports haven't sold you on the idea of Canada, try this: it's the cheapest place in the developed world to do business. The penny-pinching brigade at KPMG set out to find the least expensive cities in which to run a company, and indicators pointed north. Canada beat out 10 other industrialized nations on 27 metrics like labor, taxes and utilities. Each country's cost index, below, is benchmarked to a U.S. score of 100. So, for example, costs run almost 24% higher in Japan. The U.S. ranked...
...mature markets of the top three, China has more than 200 carmakers, ranging from creaky communist-era holdovers and former washing-machine manufacturers to modern joint ventures run by the likes of Volkswagen and General Motors. Most have responded to the growing demand with massive capacity expansion. Accounting firm KPMG predicts that within two years China will be able to build 4.9 million sedans a year--roughly the output of Germany--and will outstrip even China's fast-growing demand by 2.3 million cars a year...
...blew up, a Merrill Lynch analyst in London, Joanna Speed, downgraded the company to "sell" from "buy" in part because of its "inefficient, opaque and complex" balance sheet. Shame can be a useful weapon. At a recent hearing by a U.S. Senate committee, senior executives of the accounting firm KPMG were accused of marketing aggressive and potentially illegal tax shelters that netted the firm at least $124 million in fees. The committee's ranking member, Carl Levin, excoriated the firm's leaders in public, comments widely seen as forcing some of them to retire early. Hoping to regain momentum...
...Unsafe Haven In an ongoing probe of the company's tax advice, U.S. regulators accused accounting firm KPMG of concealing its role in creating potentially abusive tax shelters...