PwC tax scandal referred to AFP

In January, the Tax Practitioners Board banned Collins from acting as a tax practitioner until next year.


A 148-page document, referred to by Kennedy, was later released by Senate estimates and revealed how confidential information on plans to combat multinational tax avoidance was shared widely among other staff and partners within the multinational firm, and marketed to clients.

PwC has said it deeply regrets “that we have failed the high standards we set for ourselves as an organisation.

“We now need to re-earn trust, which is why we have taken appropriate action, including the announcement that we will establish an independent review, in relation to our governance, accountability and culture.”

The Tax Practitioners Board said it received intelligence on the PwC matter in April 2020, and in December 2022 informed Treasury of the outcome of its investigation.

Senator Deborah O’Neill, queried the board on why the matter was referred to it, rather than the AFP.

“Peter John Collins was found to have breached multiple confidentiality agreements with Treasury, which had provisions where a breach of it was reportable under the Crimes Act,” she said this month.

“This question has been referred to the Australian Tax Office,” the Tax Practitioners Board replied.

Treasury later confirmed that it was considering the Commonwealth’s position on this matter given the new material released by the board – a reference to the emails.

This week, Home Affairs secretary Michael Pezzullo said the PwC scandal showed why the NACC was needed.

The Morning Edition newsletter is our guide to the day’s most important and interesting stories, analysis and insights. Sign up here.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *