Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Dunne: NZ will be close to OECD on taxing multinationals

Thursday, 7 February 2013

Media Statement

Dunne: NZ will be close to OECD on taxing multinationals

New Zealand will be strongly aligned with the OECD in tackling the issue of fairly taxing multinationals, Revenue Minister Peter Dunne said today.

He said transparency was important in New Zealand operations generally.

“It is part of the Government’s better public services work and as part of this work, there has been on-going consideration of the role of tax secrecy and how to retain its important principles, yet actually achieve what we need to in a complex financial and corporate world,” he said.

“And while the tax privacy of taxpayers is very important, there is a perception that different considerations may apply to multinationals. For example, Australia announced this week its intention to improve the transparency of its business tax system.

“This issue could be part of the OECD’s focus, but it would be a mistake to see the global problems involved as easily fixed,” Mr Dunne said.

“Considerable work in this area is necessary in order to allow tax systems around the world to cope with changes in business practice. What OECD nations are doing is designing a new approach for a new world where internet-based transactions are the norm.

“This is a very complex problem and it will need a multi-layered response, and that is why we have officials working closely with the OECD,” he said.

“New Zealand has also been working on strengthening its domestic laws in this area. Most recently, we made changes to strengthen the thin capitalisation rules.

“If we follow good processes, we can expect good outcomes,” Mr Dunne said.

He said he hoped to be able to report on developments in the OECD work over the next few weeks.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Climate Marches: New Zealanders March For Solutions Not Pollution

Ahead of the UN Climate Summit in Paris more than 15,000 New Zealanders have taken part in the Peoples Climate march in Auckland, kicking off the largest climate mobilisation the world has ever seen... More>>


Labour: Little Announces New Shadow Cabinet

“Labour had an impressive intake of fresh faces after last year’s election and newest MPs have now had a year to show what they’re made of. This reshuffle rewards hard work and continues my drive to renew our Caucus line up." More>>


Because Reasons: Someone Reckons David Seymour Is Politician Of The Year

Trans Tasman's 11th annual Roll Call has thrown a curve ball this year, ignoring the likes of John Key, Bill English, and Winston Peters to pick its politician of the year from the ranks of the new generation. More>>


Whaling: NZ Deeply Disappointed By Japan's Decision

“New Zealand is strongly opposed to whaling in the Southern Ocean. We call on Japan to take heed of the 2014 International Court of Justice decision and international scientific advice concerning their whaling activities.” More>>


Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news