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PM limp on corporate tax avoiders - NZ First

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Fuseworks Media
Fuseworks Media

The prime minister is refusing to do anything about multinationals ripping off New Zealand with their avoidance of tax, says New Zealand First.

"It’s classic John Key; instead of acting he has gone for the soft option and talks of waiting to see what the OECD does with its Multilateral Tax Treaty on Base Erosion and Profit Shifting," says New Zealand First Leader and Northland Member of Parliament Rt Hon Winston Peters.

"His intention is simply to try and shut the debate down.

"This is in total contrast to the Australian government which last year made a high-profile inquiry into corporate tax avoidance and as a result introduced a new multinational anti-avoidance law targeting 1000 companies with revenues of more than $1 billion.

"The Australian government also introduced laws to clamp down on ‘thin-capitalisation’ and ‘transfer pricing.’

"Compare that to Mr Key’s limp response, but it’s not surprising.

"He doesn’t want to upset his mates, the big foreign-owned companies.

"It’s horrendous that 20 multinationals in New Zealand with revenue of nearly $10 billion paid only $1.8 million tax," Mr Peters says.

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