PwC clears itself of misleading ATO on FIRB application

PwC Australia says an internal review found no evidence the firm had misled the Tax Office about a foreign investment application that reportedly prompted a Treasury review of cases involving aggressive tax minimisation structures.

In a new round of answers to questions on notice to a parliamentary committee, the firm said it was limited by tax secrecy laws and client confidentiality about what information it could give about a Foreign Investment Review Board application that the ATO raised with then-PwC chief executive Luke Sayers on 29 August, 2019.