An 148-page document reveals the damning evidence that led to a former PwC partner being banned for leaking confidential government plans to combat tax avoidance.
The Tax Practitioners Board has released some of the damning evidence that led to a former PwC partnerThe 148-page document, which was submitted by the TPB to Senate Estimates in response to queries from Senator Deborah O’Neill, includes heavily redacted internal emails revealing that the sensitive information on plans to combat tax avoidance was widely shared with other staff and partners within the multinational firm.
Peter Collins, a former tax partner at PwC - and the only name not redacted in the emails - has been deregistered as a tax agent for integrity breaches by the board, including a two-year ban on becoming a registered tax practitioner as a result of the leak.“Also talking to treasures office about the law which is still changing. What you need?” Collins said in one email to other PwC staff.
An email from an anonymous PwC executive in January 2016 showed the success PwC yielded in the US from marketing what appear to be plans to circumvent the government’s tax plans.“The team have been very busy over the last couple of months ... and have worked with some ‘brand-defining’ clients.
“We identified US tech two years ago as representing a significant upside sector for the Australian firm as the ATO reacted to problems it had with their structures, and diligently built relationships with key offshore buyers.”This was just months before an alarmed Australian Tax Office sent out a series of alerts when it became apparent that multinationals had responded with extraordinary speed to anti-avoidance measures under the Multinational Anti-Avoidance Law .
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