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


Minister of Finance: Plan Shows $100 Billion Infrastructure Projects

Finance Minister Bill English has today launched the Government’s Ten Year Capital Intentions Plan (CIP) which shows a pipeline of $100.9 billion worth of infrastructure projects over the next decade. More>>


Werewolf: Safe Landings Gordon Campbell on the safety challenge to the Wellington runway extension.

The safety-related legal challenge revolves around the size of the 90 metre long Runway End Safety Area (RESA) being proposed for the runway extension. More>>


Environment Commissioner: We Need To Work Together On Climate Change And Farming

“The debate around agricultural emissions and the ETS has been polarised for too long,” said the Commissioner. “But the ETS is not the only way forward – there are other things that can be done.” More>>


NZ Super Fund: Seeking To Put A Market Price On Climate Change

Oct. 19 (BusinessDesk) - The New Zealand Superannuation Fund says it will devise a set of rules to assess investment winners and losers under climate change, a strategy that could rule out fossil fuels or producers such as current portfolio member Exxon ... More>>


Rejuvenation: Parata Will Not Contest 2017 Election

Education Minister and National List MP Hekia Parata has today announced that she will not be contesting the next election. She advised the Prime Minister of her decision earlier this year. More>>

Prisons Grow: Government Approves Plans For Increased Prison Capacity

Despite significant progress in reducing crime the number of prisoners has increased faster than projected. This is because the proportion of offenders charged with serious crimes has risen, meaning more people are being remanded in custody and serving more of their sentences in prison. More>>


Gordon Campbell: On Plastic Bag Activism, And Street Harassment

Amusing to see the Act Party experiencing another outbreak of young fogey-ism. What has aroused the ire of Act Leader David Seymour this time is the introduction of a Greens private members bill to the ballot process, calling for a 15 cents levy on plastic bags to reduce pollution. More>>


Unclear Weapons: US Navy Ship Cleared To Visit NZ For Navy's 75th

United States Navy ship, the USS Sampson, has been given clearance to visit New Zealand next month by Prime Minister John Key... “The process for considering the visit by the USS Sampson is the same as that used for all ships attending the International Naval Review." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news