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

Wed, 13 Dec 2017

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...

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