Multi-national companies are ripping off New Zealanders because the Government and IRD cannot identify who the overseas multi-national companies are, says New Zealand First.
'That's how hopeless things are in New Zealand. So if you can't identify them, how then are you going to tax them?” asks New Zealand First Commerce and Revenue Spokesperson Fletcher Tabuteau.
'We know this is happening because in response to a written question in Parliament, Inland Revenue advised Revenue Minister Michael Woodhouse they could not provide him with an estimate of the scale of tax paid by multi-national companies in New Zealand because they could not readily identify the companies.
'That's how third world the economic management of this country is.”
The NZ Herald has reported that last year overseas companies avoided paying up to $500 million in tax - but if the companies are unknown this figure is only a rough estimate and a low one.
'Bucket-loads of money are being lost to this country because of the government's incompetence and the lack of IRD resources,” says Fletcher.
'The Government needs to come up with real world solutions to stop this massive rip-off and they need to provide IRD with greater resources to address the issue.”
4 comments
Note to ones self
Posted on 18-03-2016 17:13 | By Kenworthlogger
Set up an unidentifiable overseas multinational company..... Hmmmmm.
Easy to catch
Posted on 20-03-2016 14:41 | By astex
It would be very easy to tax EVERYONE if there was a radical change to the way tax is collected. Scrap ALL the existing taxes and introduce a financial transaction tax. Every time money moved there would be a tax applied. (see how paypal works) No-one could dodge it and the benefits would include: Higher wages for the lower paid as they would pay less tax. Lower prices, Increased growth in the economy. No more IRD as the banks would collect the tax. No more tax dodgers.
Overit
Posted on 21-03-2016 13:04 | By overit
No worries mate. NZ is the land of opportunity as long as you are not a local.
And again
Posted on 21-03-2016 16:25 | By Towball
A small drop in the ocean of what has and is currently happening . This is what happens when the sale of everything owned by the tax payer is run into poverty by Governments sold off for chips then re-managed approapiately to return huge off shore returns for foreign investors run by foreign CEOs. NZ is a cash cow and if had been managed by the people of NZ for a greater NZ we would better off than Dubai for example. Shame when sheep mentality prevails no wonder other countries take the piss.
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