Late company tax filings produce smaller than expected 10-month Budget surplus

Thu, 02 Jun 2016

By Paul McBeth June 3 (BusinessDesk) - The New Zealand government posted a smaller than expected operating surplus in the first 10 months of the financial year as a number of large company tax assessments are being filed later than anticipated. The operating balance before gains and losses (obegal) was a surplus of $297 million in the 10 months ended April 30, below the $1.24 billion surplus projected in last month's Budget forecasts, and smaller than last year's $448 million, the government's financial statements show. Core Crown tax re...

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