Parliament

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

 

Govt’s Johnny-come-lately approach to multinational tax

Government’s Johnny-come-lately approach to multinational tax won’t wash

It’s a case of baby steps for a Government that still allows multinational companies to avoid paying their fair share of tax, says Labour’s Revenue spokesperson Michael Wood.

“After nine years in government, five years after the issue of multinational tax avoidance was placed on the IRD’s work programme, and two weeks after Labour’s own detailed proposal was released, the Government is to be congratulated on their relatively quick response.

“It’s good to know that things can be achieved with an election looming.

“However, the changes announced today continue the same sluggish vein of Government inaction, still selling New Zealand taxpayers and companies short by $100 million a year.

“Under the Government’s own estimates, multinationals are avoiding $300 million of tax per year, yet the changes today would only recoup $200 million of that each year.

“Labour’s plan will deliver the missing $300 million to New Zealand coffers and provide a fairer deal for New Zealand companies who can’t hide behind complicated tax structures offshore. It’s also better for multinational companies that already pay their fair share.

“We will resource IRD’s investigations unit to do their job properly with an additional $30m injection each year. This is in rather stark contrast to the Government, which has recently announced 1500 job losses at the IRD.

“The Government’s response remains unfair to all New Zealand taxpayers and the multinationals that pay their fair share, and the response is years overdue. You’ve got to question National’s credibility on this issue and ask whose interests they are serving.

“Labour puts the interests of New Zealanders first. Labour’s detailed plan will give the IRD the resources they need to ensure multinationals pay their fair share,” says Michael Wood.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election