Labour boosts its books with a last-ditch digital tax

Labour boosts its books with a last-ditch digital tax
Revenue minister Barbara Edmonds (left) with Chris Hipkins and Grant Robertson earlier this year. (Image: NZME)
Pattrick Smellie
The government introduced legislation on the last day of the current parliament that risks trade retaliation by seeking to unilaterally tax multinational tech companies.The Digital Services Tax (DST) Bill was introduced on Aug 31, hours before parliament was dissolved ahead of the Oct 14 election, in a move that allows the government to count $222 million of forecast tax revenue in next Tuesday’s pre-election economic and fiscal update (PREFU).With the proposed tax coming into force on Jan 1, 2025, at the earliest, that suggests the forec...

More Economy

Spending up 3.7% in year, Westpac data says
Economy

Spending up 3.7% in year, Westpac data says

Westpac’s senior economist, Satish Ranchhod, says spending is "starting to pick up again" after the bank’s data showed a 3.7% annual rise in spending on Westpac-issued credit and debit cards. Westpac's Retail Spending Pulse, released on Friday, showed the upward shift was hel...

How NZICC could change Auckland's CBD
Economy

How NZICC could change Auckland's CBD

Developers are pouring billions into Auckland CBD's midtown area.

Dileepa Fonseka 13 Mar 2025
Gap between NZ and Aus bank interest margin grows
Economy

Gap between NZ and Aus bank interest margin grows

In New Zealand, 2024 net interest margins were flat at 2.34%.

Gregor Thompson 12 Mar 2025
School lunch provider Libelle Group tipped into liquidation
Retail

School lunch provider Libelle Group tipped into liquidation

It is contracted to deliver approximately 125,000 meals a day. 

Staff reporters 11 Mar 2025