“My concern is how does [the transaction] from the US look in our local accounts,” the Australian wrote in 2009. “In the past we have had regular transactions with Singapore so that is ok ... but the 1.1 is quite large ... [and] might raise a few eyebrows regarding ‘profit shifting’ and the question of why have there not been transactions before”.
In another local cameo, the filing states that the Melbourne office worked with the US one in placing the CEO of a large travel-related company. But while the US office earned $US72,706.57 in revenue from the joint assignment, it never formally billed for this, allowing all revenue from the deal to stay on the Australian balance sheet.
The suit refers to events that took place between 2003 and 2013.
In a statement, Egon Zehnder said the New York Attorney General had independently examined the claims and declined to join the lawsuit. “We will vigorously defend against these false accusations and are convinced that they will again be proven groundless.”
Egon Zehnder's US tax battle ensnares local office - The Australian Financial Review
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