The ATO is reportedly coming after the big four accountancy firms for tax schemes

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The Australian Tax Office (ATO) is reportedly looking at Deloitte, EY, KPMG and PwC for tax promoter schemes.

The investigation stems from the Paradise Papers, 13.4 million leaked confidential documents from legal firm Appleby, showing how major world players take advantage of offshore tax havens.

The ATO has been looking at thousands of emails and documents that were part of the Paradise Papers as they relate to Australia.

The tax office’s Tax Avoidance Taskforce has collected $5.6 billion over two years from its audits of global tech companies, miners and private wealth groups.

Now the ATO’s focus is on big accounting firms after the ATO allegedly found tax schemes to get around provisions of the Multinational Anti Avoidance Law.

“The ATO believes that

... read more at: https://www.businessinsider.com.au/ato-tax-promoter-penalties-big-four-deloitte-ey-kpmg-pwc-2018-10

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