NZ targets $30M extra tax from mining tax changes

Mon, 20 May 2013

By Pattrick Smellie May 20 (BusinessDesk) - The government's enthusiasm for mining does not run to leaving " very concessionary" tax treatment rules for mining company expenses in place, with Revenue Minister Peter Dunne tabling new legislation to raise around $30 million a year in extra tax from miners. A regulatory impact statement accompanying the new legislation, tabled in Parliament this afternoon, shows the mining industry is concerned the decision will make New Zealand less attractive to international mining investors. However, an ana...

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