The Strategist

PwC offices are searched in Germany

12/02/2021 - 05:19

The Frankfurt headquarters of the consulting firm PwC, as well as its offices in Berlin, Hannover, Stuttgart, and Düsseldorf, were searched on the 30th and 1st of November.

Howard Lake
Howard Lake
It was reported in German media, citing a statement from the Frankfurt prosecutor's office concerning searches of a company's offices and sources claiming it was PwC. PwC Germany also stated that it is participating with the inquiry, but refused to disclose any other information.

The searches are part of a German investigation into tax evasion allegations leveled against numerous current and former PwC partners between 2012 and 2017. According to reports, the entire amount of unpaid taxes is €11 million. The defendants, according to the authorities, devised a method in which certain money earned in Germany was reclassified as income from a Swiss subsidiary, allowing for tax avoidance.

The apartments of eight of the company's workers were searched in addition to the company's offices. The operation included the help of 250 police officers, as well as prosecutors and tax authorities.


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