Acting PM Peters rebuffs concerns over digital services tax

Victoria Young
Fri, 12 Jul 2019

By Victoria Young July 12 (BusinessDesk) - Acting Prime Minister Winston Peters has dismissed concerns the US could threaten New Zealand with tariffs over proposed taxes for internet companies.  New Zealand is still developing a digital services tax which could generate $30-to-$80 million from multinationals such as Facebook and Google, who pay very small amounts in this country compared with their total revenue. Most of the companies affected are US tech firms and the US Trade Representative Robert Lighthzier has said it is investigat...
Primary Sector
$25m for Milford tunnel as Southland gets pre-election funding
Brent Melville | Thu, 16 Jul 2020

The Homer Tunnel, a transport lifeline into and out of Milford Sound, Fiordland, will receive a $25 million upgrade as part of a swathe of pre-election government investment into Southland that also i...

Economy
Cheaper petrol, accommodation through lockdown tames inflation
Paul McBeth | Thu, 16 Jul 2020

Cheaper petrol and accommodation slowed the annual pace of inflation through the covid-19 lockdown, more than offsetting price spikes in other consumer goods. The consumers price index shrank 0.5 p...

Retail
Delegat profits up 37%
Victoria Young | Thu, 16 Jul 2020

Wine maker Delegat Group's unaudited profit after tax for the year to June 30 rose 37 percent to $64.1 million, the company reported. The figure includes fair value movements in its vines and deriv...