Parliamentary probe demands PwC name and shame tax leaks staff

PwC Australia must come clean and name the partners and staff who shared drafts of confidential tax laws leading to the firm’s infamous 2023 tax leaks scandal, a Senate inquiry into the matter has demanded.

The parliamentary probe, conducted by the Senate’s Finance and Public Administration Committee, follows revelations that PwC Australia’s former tax partner Peter Collins shared confidential information regarding multinational tax measures it was helping Treasury to develop in 2015 with fellow staff members.

The accounting firm subsequently used the confidential information to advise major corporations on how to sidestep the tax changes and market the firm.

In the inquiry’s final report, published on Wednesday, the committee demanded the embattled consulting firm be “open and honest with the Australian parliament and people”.

“The committee recommends that PwC … promptly publish accurate and detailed information about the involvement of PwC partners and personnel, including names and positions, in the breach of confidential government information,” the report says.

“The failure to release the now infamous Linklaters advice which relates to the international elements of this matter, leaving the committee little option but to conclude that the failure to release this material is to protect the organisation from further scrutiny and consequences of their actions.”

The committee’s final report lands a year into Mark Burrowes reign as PwC Australia’s chief executive.

Mr Burrowes, a British expat, was parachuted in from PwC’s Singapore arm to run Australia’s operations following the firm’s tax leaks scandal which remains the subject of nine separate investigations by the Tax Practitioners Board, a separate joint parliamentary inquiry, and a criminal investigation by the Australian Federal Police.

Since taking the reins, Mr Burrowes has hived off PwC’s government consulting arm, selling it to private equity firm Allegro Funds for $1 in July last year in an attempt to regain trust and win new lucrative contracts to the public service.

The PwC Australia boss has also presided over deep staffing cuts, slashing more than 700 roles from the firm’s nearly 8000 strong workforce.

More to come