The US tax fraud case has settled, but related-party fees remain opaque.
earned $5 million last year, which is more than twice the $7.1 million profit EZ Australia reported across that time.
A 2009 email from an unnamed Australian EZ employee was cited in the complaint, advising that a US proposal to attribute 1.1 million Swiss francs to EZ Zurich “might raise a few eyebrows regarding ‘profit sharing’ and the question why there have not been transactions before”. There are no payments to Zurich in the 2021 accounts, which for the first time show EZ Australia earned more from other EZ arms than it paid them, a taxable $338,000.
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