Source: Pwc
Private consultants who leak confidential government tax information or cover up breaches by their colleagues will be slapped with million-dollar fines under new legislation.
The changes, which include penalties of up to $1.1 million for individuals and $5.5 million for corporations, were passed in the NSW parliament on Thursday after a scandal over confidential federal tax briefings being leaked by a former PwC partner.
The tough multi-million-dollar penalties will apply to individuals, corporations, or other organisations caught using or disclosing confidential government taxation information.
The state government said it routinely consulted with external representative industry bodies on tax policy and legislation on a confidential basis.
Handpicked for you
Too many sins to count: Why PwC must not audit again
COMMENTS
Reader comments will be back online shortly. In the interim send us any tips or feedback via news@smartcompany.com.au.