Govt warned of multinational tax rort in 2013

Govt warned of multinational tax rort in 2013

The IRD warned the Government in 2013 of massive, systematic tax avoidance by multinational companies but National is still to act on it, the Green Party said today.

The New Zealand Herald today released analysis that showed multinational companies operating in New Zealand could have avoided paying up to $500 million in tax last year. The IRD warned both the Ministers of Finance and Revenue in 2013 that multinationals were avoiding tax by profit shifting and that work to protect the New Zealand tax base “should be a key focus” of tax policy work over the next 18 months.

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