A parliamentary inquiry has raised questions about whether PwC Global notified the US audit regulator of an investigation by Australia’s Tax Practitioner’s Board into the leaks scandal.
PwC’s global firm knew about the tax leaks scandal unfolding in Australia two years before its local affiliate informed the powerful US regulator that oversees the consulting giant.
This coincides with a decision by the TPB to elevate inquiries into a formal investigation of one former partner.TPB chairman Peter de Cure said an enormous amount of information had to be sorted through first, and “of the nine partners, it may well be that seven of them have a formal investigation and two don’t or two do and seven don’t, but we’ve got to go through all of the information in an orderly fashion to find the right course”.
He said the material provided last Wednesday was merely the first instalment of what the TPB was demanding.TPB and ATO officers were grilled during the hearing over notices to produce that the TPB sent to US tech companies in mid-2021 relating to tax settlements they made with the tax office, in the aftermath of the PwC marketing push.“So from the middle of 2021 ... PwC Global were aware of and involved in this matter?” Labor Senator Deborah O’Neill asked.
“They got a result [on PwC] which the ATO did not get,” Senator Pocock said. “So the little engine that could is how I’m looking at the TPB right now, and I’m looking at the ATO thinking the little engine that didn’t.
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