War on tax dodging prompts U-turn on multi-nationals’ profit reports

Thu, 31 Oct 2013

By Pattrick Smellie Oct. 31 (BusinessDesk) – The government is reversing a decision that would have excluded most foreign-owned New Zealand companies from having to publish annual financial statements publicly as global tax authorities focus on the growing problem of multi-national corporate tax avoidance. Commerce Minister Craig Foss tabled a revised version of the Financial Reporting Bill in Parliament today, removing the previous intention to exempt foreign-controlled companies with assets of less than $60 million and annual revenue of le...

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