Archive for April, 2014

In a telling example of tax avoidance investigations spanning the globe, the High Court has sanctioned the seizure of documents from a UK accountancy firm in connection with inquiries by the Australian Tax Office (ATO). The ATO had requested the assistance of HM Revenue and Customs (HMRC) under the Double Tax Convention between the UK and Australia. The ATO was investigating a series of complex arrangements involving companies and other entities in the UK and elsewhere which were believed to be beneficially owned by Australian residents and used to avoid tax. The sum at stake was said to be tax on income of Australian Dollars 230 million. In response to the ATO’s request, HMRC invoked investigatory powers under the Finance Act 2008 and sought disclosure of documents from the accountancy firm in respect of 24 companies. The firm was said to ... Read more