Legal inquiries into PwC Australia’s tax leaks scandal have concluded that it did not lead to a “reduction in tax revenues for Australia”.
Wood Mallesons, Allens and Linklaters, published by PwC on Wednesday, concluded that there was no evidence that tax structures proposed by the firm in relation to the then-new Multinational Anti Avoidance Laws “were created using confidential information”.“It has been inaccurately suggested that breaches of confidentiality by PwC“First, PwC Australia has not identified evidence that the structuring proposals described ... were created using confidential information.
former Telstra chief executive Ziggy Switkowski’s investigation that found widespread governance and cultural problems at PwCThe tax leaks scandal relates to former international tax partner Peter Collins sharing confidential tax information with PwC personnel who used it to help clients sidestep avoidance laws he was helping Treasury develop.
The legal inquiries found a “combination of multiple failings” by individuals and the firm’s governance, culture and accountability systems.
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