Google NZ makes $20.5m profit, pays US parent $870 million

Google's local tax bill is swelling. (Image: Getty)

Fri, 26 May 2023

Google’s New Zealand business made a $20.5 million post-tax profit last year, paying a mammoth $870m service fee to its US parent.Profit rose from $15m in 2021 as US tech platforms continue to expand in New Zealand.Revenue recorded in NZ increased to $78m in 2022, up from nearly $58m the year before.The improved performance saw Google NZ pay a larger service fee to its US parent. The $870m sent to the US eclipses the $698m paid in 2021.Reported NZ revenue excludes the service fee.According to tax experts, the parent groups of large US tec...

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