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

 


Tax Policy Needs To Be Attractive Locally Too

Tax Policy Needs To Be Attractive To Local As Well As Overseas Firms - Carlaw

Business NZ Chief Executive Simon Carlaw says it's encouraging that the Government is interested in a favourable regime for new foreign investment, with the Finance Minister's decision to call for more work to be done on the McLeod panel's proposal to tax new investment in New Zealand by overseas companies at 18 cents.

"Our small population base means we must attract investment from elsewhere to grow our living standards. Clearly, we need a range of initiatives to gain that investment. By the same token, work also needs to be done to fix the tax issues for New Zealand firms investing in other countries and to reduce the overall company tax burden.

"The decision calls attention to the need to make it worthwhile for local companies to continue to invest here. The same dynamic that forces overseas companies to choose between competing countries for their investment dollar is at work for New Zealand companies also.

"Our tax policy should be just as attractive for local firms as for overseas ones."

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>>

ALSO:

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>>

ALSO:

Results:

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>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news