Hon Todd McClay
Minister of Revenue

3 February 2012 Media Statement

NZ Officials participate in OECD BEPS discussions

Revenue Minister Todd McClay has confirmed that senior IRD officials are to participate in OECD discussions on base erosion and profit shifting (BEPS) in Paris this week.

“In his opening statement to Parliament on Tuesday the Prime Minister stated an intention to maintain a focus on combatting base erosion and profit shifting by multinationals,” Mr McClay says.

“New Zealand’s on-going involvement in OECD discussions over the international response to BEPS further demonstrates the Government’s commitment to working with the international community to tackle this complex issue.”

“My officials are contributing to discussions on the growth of the digital economy, its impact on tax bases, and possible solutions to combatting the BEPS problem.”

"New Zealand’s participation at these forums is highly valued, in part because of the strength and integrity of our domestic tax laws.”

“As New Zealand is becoming more and more attractive as a place to do business and invest in, it is critical that we continue to strengthen our tax rules to ensure overseas companies pay their fair share.”

“Multilateral cooperation is the key to addressing these cross-border issues. Multinational base erosion and profit shifting requires a pragmatic international response; it is clear that it cannot be solved by individual countries working in isolation,” Mr McClay says.

ENDS

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