ATO Issues Release on Largest Promoter Penalty in R&D History

The Australian Taxation Office has issued a release announcing that the Federal Court has handed down the largest promoter penalty in R&D history.

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Largest promoter penalty in R&D history handed down

The Federal Court has handed down a judgement against Mr Paul Enzo Bogiatto and ordered $22.68 million in penalties be paid.

Last Friday, Mr Bogiatto was ordered to pay $6.51 million, in addition to $6.01 million and $3.65 million penalties for his related entities, Ryusei, Lambda…