Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Tax Review Issues Deserve To Be Debated

For immediate release 28 June 2001

Tax Review Issues Deserve To Be Debated Says Institute

The Institute of Chartered Accountants says it is disappointed that the Tax Review 2001 report appears to have been dismissed without the opportunity for serious consideration and debate.

“The Institute believes that it is in the national interest to engage in constructive and open debate about the issues raised by the McLeod Tax Review,” the Institute’s President, Owen Williams, said today.

“Tax policy is too important to the national well-being to be handled lightly.”

Mr Williams said the review team’s task was to take a fresh look the country’s taxation system and come up with some alternatives.

“That’s exactly what they have done. A natural part of that process is to challenge existing approaches.

“It should be remembered that the issues paper is not trying to present a final word. It refers to letting evidence speak for itself, testing inherited conventions, and vigorously testing the report against further submissions before presenting final recommendations.”

Mr Williams said the Institute understood the public’s concern about some of the ideas raised in the report, but good policy could only be achieved through constructive debate.

“The report should not be discarded because some of the findings are controversial or one is deemed to electorally unappealing. All aspects should be fully debated before final decisions are reached.

“The Institute hopes that in coming days genuine debate will be possible, and that it is reported in a balanced and complete manner for the benefit of the nation.”

….. ends

© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news