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

 


Finally National acts on multinational tax

Michael Wood
MP for Mt Roskill
Spokesperson for Revenue
Ethnic Communities
Consumer Affairs


3 March 2017

Finally National acts on multinational tax after dragging its feet for years

Labour welcomes the Government’s belated recognition of the fact that some multinational corporates are not paying their fair share of tax, says Labour’s Revenue spokesperson Michael Wood.

“However we have to wonder why it’s taken nine years of delay tactics to get there. Just last year Michael Woodhouse said “I am satisfied that we have good, robust rules in place” and “If you are asking me if New Zealand is missing out somehow, I have seen no information to suggest that that is the case”. Yet today the IRD produces a report showing that multinational companies are avoiding $100’s of millions a year.

“You have to wonder if the Minister’s actions have got a lot more to with this year’s election then any real attempt to force multinationals to pay their share of tax.

“For Kiwis it’s important that the tax is paid, as credible experts estimate it’s worth somewhere between $500 million and $1 billion in lost revenue. That’s revenue that should be supporting our schools, hospitals, and police.

“We also believe that we should have at our disposal all the tools we need to get this lost money. As such the current process should include greater consideration of a Diverted Profits Tax.

“We think kudos is due the Minister for this first step. Only a Labour-led government will make sure our tax system is fit-for-purpose, and that the ‘big boys’ contribute to our schools and hospitals - just like working kiwis do,” says Michael Wood.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: John Pilger, And Making War On China

In July, the New Zealand Defence Force is scheduled to join the latest round of Talisman Sabre, a huge training exercise that Australia carries out biennially in conjunction with all four arms of the US military.

Last time around in 2015, New Zealand contributed 650 personnel, 45 vehicles and two of our $NZ771 million dollar fleet of NH90 helicopters to this regional war game.

What’s weird is that Talisman Sabre is actually a rehearsal for an assault on China and its ability to defend itself. More>>

ALSO:

 
 

Urban Planning Report: Momentum Grows To Replace The RMA

A major new report from the Productivity Commission lays the foundation for action on the growing political consensus that the Resource Management Act and associated laws are failing both cities and the natural environment and need a complete rewrite. More>>

ALSO:

Vaping: Quitline Supports Decision To Legalise Nicotine E-Cigarettes

Today Associate Minister of Health, Hon Nicky Wagner has announced that Government are taking the proactive step of legalising nicotine e-cigarettes, a move which Quitline is pleased to hear and support wholeheartedly. More>>

ALSO:

Gordon Campbell: On The Labour/Greens Deal (And The NZDF)

If Labour and the Greens were hoping their Budget Responsibility Rules (BRR) agreement would foster an unlikely alliance then hey… mission accomplished! Because it isn’t every day that Sue Bradford, the CTU and Matthew Hooton speak with one voice, as happened yesterday. More>>

ALSO:

Until After The Election: Extension Of Report-Back Date For Havelock North Inquiry

Attorney-General Christopher Finlayson announced today that the report-back date for the independent Inquiry into Havelock North Drinking-Water has been extended at the request of the Inquiry’s Panel. More>>

ALSO:

Little Heading For Court: Apology Over Donation/Hotel Contract Claims Not Accepted

Today I want to publicly apologise unreservedly to Mr Hagaman for any hurt, embarrassment or adverse reflection on his reputation which may have resulted from my various media statements. I have offered that apology to the Hagamans. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news