BUDGET 2017: Govt targets $100M a year from closing offshore tax loopholes; moves on ‘black hole’ spending

Thu, 25 May 2017

By Pattrick Smellie May 25 (BusinessDesk) - The government expects to raise at least $250 million over the next three years from closing foreign tax loopholes exploited by both multi-national corporations and New Zealand companies with offshore activities. The gains are expected from three initiatives put out for discussion in the last nine months covering transfer pricing and permanent establishment avoidance, interesting limitation relating mainly to related party debt, and hybrid financial instrument mismatches. The latter allow com...

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