NEWS

Australian cricketers under Tax Office scrutiny
13th Feb 2007  14.02 IST
By Agencies  


Australia's top cricketers including Shane Keith Warne are being investigated for apparent tax evasion due to their alleged failure to disclose overseas earnings.

Warne and other international cricketers have allegedly failed to declare hundreds of thousands of British pounds managed in offshore accounts, a local TV report said on Monday.

The investigation is being led by the Australian Tax Office. The players, however, are unlikely to face criminal charges.

Investigators believe a big part of their English playing and endorsement earnings were in offshore trusts managed by tax haven specialist Philip Egglishaw, the report said.

The players seemed to have not been advised that their English income should be declared and taxed in Australia.

Report said that Warne had relied on advisers and is believed to have told tax officers, he was not aware his international arrangements might have breached Australian tax laws.

"That's all totally clean," a source close to Warne told 'The Age' newspaper. "His accountants are speaking with the tax department," the source added.

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