Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search


No Benefit for Biotech in Tax Policy Changes

No Benefit for Biotech in Tax Policy Changes

NZBio Media Release, 3 August 2005

Changes to tax policy meant to ease cash flow problems for technology firms selling patents fails to address a key issue raised by New Zealand’s biotechnology sector, NZBio CEO Brian Ward says.

“The value of biotechnology comes from a small number of very successful innovations. The legislation assumes that all technologies will result in successfully commercialised products, which is simply not realistic,” Mr Ward says.

“The policy changes do not take into account the fact that in many cases technology transferred between companies does not result in a successful product. Biotech companies are usually built on a portfolio of technologies and only the most promising leads are developed into applications.

“To impose a tax liability on patent sales is simply a tax grab at the expense of industry growth.

“NZBio is disappointed that the proposed changes do not address this key issue in a meaningful way and will have little real benefit to New Zealand’s biotechnology companies.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>