Aggressive foreign trusts pushed out in 2017 reforms

Aggressive foreign trusts pushed out in 2017 reforms
More than three-quarters of NZ foreign trusts have left our shores in recent years. (Image: Deposit Photos)
Paul McBeth
The global Pandora Papers investigation into how and where the world’s wealthiest park their assets has brought New Zealand’s foreign trust regime back to the fore, even if just to show the 2017 reforms weeded out the most aggressive operators.The 2016 Panama Papers leak prompted policymakers to rethink a permissive foreign trust regime, leading to the introduction of a register and greater disclosure requirements.The then National-led government adopted the recommendations put forward by former PwC chair John Shewan, which found th...

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