Huge Penalties to Crack Down on Rogue Consultants: Australian Government

People walk past a sign on a window on the exterior of the PWC London offices in London, on March 31, 2021. Leon Neal/Getty Images

Australia will raise the penalties for tax advisors and consultants by 100 times in the latest crackdown on tax avoidance and unethical practices in the consulting industry.

The Australian government has announced a new reform to combat multinational tax avoidance and misconduct among tax consultants following the PricewaterhouseCoopers (PwC) scandal that shocked the country.