Tax crackdown bridges revenue loss from partial privatisation: Dunne

Tue, 19 Jun 2012

By Paul McBeth June 20 (BusinessDesk) - The Inland Revenue Department's clampdown on tax avoidance and loopholes will bridge the gap left by the government's planned sell-down of its energy company holdings, according to Revenue Minister Peter Dunne. Measures in last month's budget to tighten tax breaks for mixed use assets and livestock, along with giving IRD a longer leash to chase tax dodgers and a hike in petrol and tobacco excise, will net $1.73 billion over the next five years, Dunne told Parliament's finance and expenditure committee....

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