On 1 May 2019, PwC announced that profits from the firm are taxed at an average rate of 37%. This was in response to  increasing interest in the tax position of the Big 4 professional services firms, including a recent request of the ATO by the Senate Economics Legislation Committee. In response, the ATO said they didn’t know exactly where the income ended up and consequently the tax rates paid.

See below for the full press release, and some editorial comment.

FJM 8.5.19

[Tax Month – May 2019]

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