Dr. Brian Keegan:

I am not sure I understand the distinction regarding a gentleman's agreement. It has been the practice right the way along that a taxpayer's affairs are strictly private and confidential. For example, there is no way of establishing purely in terms of tax rules what any individual's income is or what are his or her personal circumstances. Sometimes those personal circumstances can be very sensitive. For example, if an individual is claiming medical expenses, he or she might not necessarily want that to be out in the public domain. That has been the case irrespective of whether or not the taxpayer is an individual or a body corporate. We only ever see the detailed workings of an individual taxpayer's affairs, be they corporate or individual, in the context of judicial proceedings.