Two company directors have been sentenced to over six years in jail each, after being found guilty of tax fraud.
Phone Directories Company directors John Hargraves and Daniel Aran Stoten were involved in a sham invoicing scheme involving international tax havens, according to the Australian Crime Commission.
With this scheme, they understated their company income by over $4.4 million per year, and their personal income by $4.8 million.
“This sentence sends a clear message to participants and promoters of complex offshore schemes they will face the full force of the law if they attempt to deliberately hide income and assets from the ATO,” tax commissioner Michael D'Ascenzo said.
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