Offshore centres feel heat in tax probe

The offshore financial industry has come under scrutiny on the back of a global tax investigation that involves several prominent Australians in the entertainment and sporting fields, plus potentially an undisclosed number of other international investors. Four countries are being investigated following leads from the Australian Tax Office (ATO) and Australian Crime Commission (ACC), after an offshore tax evasion scheme was suspected. As reported in the Sydney Morning Herald, Philip Egglishaw and his Geneva-based accountancy firm Strachans are the subjects of the probe. So far, 12 well-kno...