Online spending eroding NZ tax base more than multinational avoidance, English says

Wed, 29 Jan 2014

By Paul McBeth Jan. 29 (BusinessDesk) - The growing worldwide digital economy is putting pressure on New Zealand’s tax base, though online retail is a bigger threat than multinational avoidance, according to Finance Minister Bill English. New Zealand is part of a multilateral effort to clamp down on income shifting by the likes of web-based giants Google and Facebook, who have garnered international attention for their complicated tax structures, English told Parliament’s finance and expenditure committee. A bigger threat to New Zealand’s...

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