German officials raided the offices of PwC in Frankfurt over allegations of a Swiss tax scheme that may include current partners of the big-four consulting firm.
Roughly 250 officials fanned out to search the offices of a big-four consulting firm as well as the homes of eight individuals on suspicions of irregularities between Germany and Switzerland over tax, according to reports from «Sueddeutsche Zeitung» (in German) and «Der Spiegel» (behind paywall, in German) overnight.
The outlets reported the consulting firm – not named by Frankfurt's prosecutor – is PwC. Specifically, prosecutors suspect that several PwC partners oversaw a tax scheme that saw income from German clients relabeled as Swiss business.
A spokesman for PwC in Zurich said it is cooperating fully with authorities and «welcomes a clarification of the situation soon». It is the latest in a series of scandals in Europe surrounding the big-four of consulting – Deloitte, EY, PwC, and KPMG. EY is in a maelstrom over Wirecard as well as a high-profile Swiss case.
