Businesses over-egg the power of corporate tax cuts, says English

Mon, 29 May 2017

By Pattrick Smellie May 29 (BusinessDesk) - Cutting New Zealand's 28 percent corporate tax rate is "not a panacea in the way business groups sometimes market it," says Prime Minister Bill English. Responding to criticisms from the business community that the Budget had ignored the trend in other developed economies for lower corporate tax rates, English said New Zealand's was an unusually "comprehensive, fair" tax system. Not only did the New Zealand tax system not double-tax company earnings, because of the imputation credits system,...

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