NZ company profits continue to bolster tax take, 8-month surplus bigger-than-expected

Wed, 05 Apr 2017

By Paul McBeth April 6 (BusinessDesk) - New Zealand firms' stronger profits in 2016 continued to swell the government's coffers in February, helping boost the government's operating surplus beyond forecasts for the first eight months of the financial year. The operating balance before gains and losses (obegal) was a surplus of $1.41 billion in the eight months ended Feb. 28, more than the forecast surplus of $498 million and up from $398 million a year earlier, the latest Crown accounts show. Tax revenue rose 7.7 percent to $48.14 billio...

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