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"All our advice and assistance is given in accordance with applicable local, European and international tax laws and agreements and is guided by the PwC Global Tax Code of Conduct which has been in place since 2005," the firm told the BBC.
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That appears as a tax code of 750L.
This is the sixth such annual conference but, with the Bush administration also now engaged, the most important so far.Internationally, the Organisation for Economic Co-operation and Development has been trying to persuade off-shore tax havens to adopt a code of conduct, including transparency, for years.
Another would tie the funds' exemption from United States taxes to compliance with a code of conduct.
David Gauke, the exchequer secretary, who stunned the City on Monday by taking action to stop the tax avoidance, continued to refuse to identify the bank and had to defend the government for not taking any action to penalise Barclays, which has signed the government's code of conduct on tax under which signatories agree to comply with not only the letter of the tax law but also the spirit.
The close involvement of KPMG in the dispute comes despite the accountancy firm publishing a code of conduct on tax advice three years ago.
Nor is the main point on the Finnish agenda, a proposed code of conduct to end "unfair tax competition", to be misunderstood as calling for convergence in tax rates.
In 1999 the EU launched a code of conduct aimed at "harmful" tax measures, using the same definition as the OECD's.
In July that year, the Lords Standards Commissioner found he had breached the code of conduct for peers by signing an agreement to lobby parliament on behalf of the tax haven.
A code of conduct.
America has no such code of conduct.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com