Tuesday, 21 September 2004

Copeland backs fairer tax regime for banks

United Future revenue spokesman Gordon Copeland today signalled his support for government moves which will see banks paying their fair share of tax from 1 July 2005.

“Banks play an important role in the success of the New Zealand economy. However, like any other company or individual, they need to bear their fair share of the tax burden,” he said.

“Everyone has a right, within the law, to arrange their affairs with a view to minimising tax liabilities. Equally the government from time to time has a right to change the law to ensure that the outcome is fair.

“The moves announced by Finance Minister Dr Michael Cullen will ensure, henceforth, that the banks, most of whom are foreign-owned, will pay tax on their New Zealand operations at a normal level.

“The boost to government revenue is estimated to be several hundred million dollars a year and, in my view, it is time for the government to return an equivalent, if not greater, amount to Kiwis through a lowering of the tax rates,” said Mr Copeland.

ENDS

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>