Thursday, 20 May 2004, 5:06 pm Press Release: ACT New Zealand
Time for a Company Tax Cut
Thursday 20 May 2004
Richard Prebble - Press Releases - Taxation
ACT Leader Richard Prebble in parliament today asked the
Minister of Finance when the country can expect a cut in
the company tax rate. The ACT MP reminded Dr Cullen of
his promise, when in Hong Kong, to lower New Zealand's
company tax rate when "fiscal conditions permit".
"Labour has a record taxpayer surplus of over $6 billion.
According to the Treasury's `Tax Facts' in the 2003
Budget a cut in the company tax rate from 33 cents to 30
cents would cost only $420 million.
"Dr Cullen's claim,
that after his giveaway Budget to social welfare
beneficiaries next week he will be forced to borrow, is like
the man convicted of murdering his parents who then asks
for the court's mercy on the grounds he was an orphan.
"The latest KPMG worldwide survey, published in January this
year, shows that New Zealand not only has a higher tax
rate than Australia and most if the Asia Pacific region,
but now most of Europe and the OECD", Mr Prebble
said.
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