Business Tax Cut And R&D Spending A Boost
Business Tax Cut And R&D Spending A Boost For Exporters
New Zealand First economic development spokesperson Doug Woolerton says he's pleased with today’s announcement of a significant cut in the corporate tax rate and an $87.8 million funding boost to the Market Development Assistance Scheme (MDAS).
“Reviewing New Zealand’s business tax regime and providing incentives for productivity and export improvements forms a large and important part of New Zealand First’s Confidence and Supply agreement with the Government and we are glad to see both being addressed in Budget 2007.
"New tax incentives at the rate of 15 percent of eligible expenditure for research and development will further boost the prospects of New Zealand exporters.
“New Zealand First will continue to work to improve New Zealand businesses' international competitiveness and will continue to promote a range of productivity improvements and business incentives, including a lower flat tax on new export profits," said Mr Woolerton.