Former ATO deputy commissioner Mark Konza says revelations about the PwC tax leak offer a “once-in-a-lifetime” opportunity for the agency to “get rid of the drivers of tax planning”.
The man who led the Tax Office’s crackdown on multinational profit shifting says revelations about the PwC tax leak offer a “once-in-a-lifetime” opportunity for the agency to “get rid of the drivers of tax planning” by targeting accounting firms that provide aggressive taxation advice.
He said the major accounting firms needed to win back the ATO’s trust by helping officials identify loopholes rather than advising clients on how to exploit these gaps. The activity came to light only because the ATO used special powers to obtain emails sent between PwC advisers. Mr Konza, who now consults to law firm MinterEllison on tax issues after more than four decades at the Tax Office, said advisers would now probably avoid using emails to discuss aggressive schemes.
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