The Australian Taxation Office (ATO) recently filed an application in Federal Court to pursue penalties against a former EY partner over an alleged tax exploitation scheme.
The ATO said it was taking the action under "promoter penalty" laws, which allow it to penalize individuals who promote tax exploitation. "Promoter penalty laws are in place to deter and disrupt the promotion and implementation of aggressive tax avoidance and evasion schemes," the ATO said.
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