IRD to get increased powers to extract info from multinationals under new tax law

IRD to get increased powers to extract info from multinationals under new tax law
Paul McBeth
By Paul McBeth Dec. 13 (BusinessDesk) - New Zealand's Inland Revenue Department will get tougher powers to demand overseas information from uncooperative multinational companies under a new law aimed at discouraging complicated tax structures to unfairly minimise a firm's tax obligation.  The Taxation (Neutralising Base Erosion and Profit Shifting) Bill passed its first reading in Parliament yesterday after a false start when Revenue Minister Stuart Nash missed his cue to deliver the government's speech to the legislation. The new law...