Red Alert

Tackling the multi-nats

Posted by on December 7th, 2012

I’ve drawn attention to the way in which multinationals are avoiding paying tax in New Zealand.  After some prevarication, Peter Dunne ordered up a report from officials on the way similar issues are being tackled abroad.  Good.

The topic is running hot in the UK.  The Guardian’s editorial on Monday was a call to action.  The Australian Assistant Treasurer, David Bradbury, last month announced a range of measures to address tax avoidance.  Bradbury’s speech is well worth a read.  It explains the issue in plain English and how Australia is tackling it.

Quantifying the size of avoidance in New Zealand needs to be a priority for the Revenue Minister.  Australia have pulled an expert group together to advise their Treasury on the scope and extent of the problem in their country.  New Zealand needs to do the same.  Quickly.

5 Responses to “Tackling the multi-nats”

  1. Jack Ramaka says:

    Hone Key and his relatives in New York are keen to get their hands on New Zealand’s energy assets, these are very strategic assets especially in the long term.

    They are cash cows as they have guaranteed cash flow from NZ consumers, and there are no barriers to increasing prices and the ROI on the assets employed.

  2. insider says:

    Have you managed to comprehend the tricky concept of taxing profit rather than revenue yet?

  3. David Clark says:

    @insider if you follow the first link in the blog, I think you’ll find the drafting error was corrected some time ago.

  4. bbfloyd says:

    The “proof will be in the pudding” as the old timers would say it…. in other words, calling for an inquiry is all wel and good, but the real issue is what actually gets done as a result…

    bouffant betty’s track record doesn’t fill me with confidence of any meaningful change, over and above cosmetics that can be sprayed around by the “fourth estate” as real…..

    @insider.. have you managed to spot the difference between real, thoughtful contributions to important discussion, and what you do yet?…. Although I will concede that comment such as yours does help to remind us just how bankrupt our political landscape has gotten with the raiding party currently engaged in wholesale pillaging…

    One has to wonder, in fact, just how many national (raiding party) mp’s would be discomforted by any meaningful changes that would undermine the open slather theft of our capital, and assets… Now that would make an interesting article…. uncovering just how many tories are hiding their money inside these vehicles….

  5. GeoffCartwright says:

    Like banks hold shares or did in the parent company in the nova pay shandel.
    time for us poor downtrodden people take back our country from the corporate multi and local….it’s about people and the environment not profit for the few.