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 NZ statist announces crack down on multinational tax "rorts"

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PostSubject: NZ statist announces crack down on multinational tax "rorts"    Thu Mar 02, 2017 4:26 pm

Foreign multinationals will be prevented from shifting profits from their New Zealand sales overseas, if those sales are actually driven by New Zealand-based staff, Revenue Minister Judith Collins has announced.

The move is one of a series of reforms proposed by Collins to clamp down on multinational tax avoidance, which also include measures to prevent excessive interest charges by foreign firms, transfer pricing abuses and so-called "hybrid mismatches".

However, Collins made no mention in a long-awaited speech in Queenstown of a "diverted profit tax", which has been introduced in Australia and Britain to penalise companies caught manipulating system.
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NZ statist announces crack down on multinational tax "rorts"

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