IRD delayed multinational tax crackdown due to private sector, investment concerns

IRD delayed multinational tax crackdown due to private sector, investment concerns
Sophie Boot
By Sophie Boot Nov. 9 (BusinessDesk) - New Zealand has delayed cracking down on multinational tax avoidance due to private sector concerns over timing and concerns about "scaring away" foreign investment, the Inland Revenue Department says. Wide-ranging reforms to corporate tax rules proposed by the Organisation for Economic Cooperation and Development (OECD), known as the base erosion and profit shifting (BEPS) project, target global tax losses estimated at US$100 billion to US$240 billion a year, or between 4 percent and 10 percent of g...