Alleged Australia-Vanuatu tax cheats face court

16/05/2008 16:59:59

Two Australian men have appeared in court in the Queensland state capital, Brisbane, charged over a multi-million-dollar offshore tax avoidance scheme.

Federal police allege the men, aged 62 and 72, were involved in promoting tax avoidance through an intricate network of companies in Australia and Vanuatu.

Police allege their activities relate to an asset stripping scheme, designed to leave Australian companies in a position where they are unable to pay their tax bills.

Both men were remanded in custody until further court appearances in July.

The charges carry a maximum jail term of 20 years.

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