Category Taxation in Asia-Pacific

NZ Tax Working Group Talks Capital Gains

September 20, 2018 Taxation in New Zealand

Taxes in New ZealandWELLINGTON – New Zealand should tax capital gains, but maybe not via a capital gains tax.

The New Zealand Tax Working has released its Interim Report with a discussion on potential tax changes which may be recommended for the country, including a tentative approval of a capital gains tax.

The Tax Working Group was established by the Labour-led government and tasked with evaluating what changes should be enacted in the New Zealand tax system.

The question of a capital gains tax is a contentious one in New Zealand, as investors in the country have a strong preference for investment in property, due in part to a lack of capital gains tax.
It was noted that introducing a brand new capital gains tax would prove to be complicated.

As a potential alternative, the report mentions the possibility...

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Major Pharmaceuticals Dodging NZ Taxes

September 18, 2018 Taxation in New Zealand

drug companiesWELLINGTON – Oxfam is claiming that pharmaceuticals are “cheating” New Zealanders out of millions in taxes.

On September 18th the New Zealand wing of Oxfam International issued a press release claiming that major drug and pharmaceutical companies are underpaying their taxes by millions each year.

Oxfam claims that drug companies are “cheating New Zealand out of millions in tax revenue” by shifting their profits to low-tax jurisdictions.

By moving their profits out of New Zealand, the companies are able to bypass paying income tax on their actual earnings made from New Zealand activity.

According to the Oxfam New Zealand, over the years between 2013 and 2015, the total amount of approximately NZD 21 million of potential tax revenue was unfairly unpaid by the Pfizer, Merck, Johnson & ...

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New Zealand Needs Sugar Taxes, Prime Minister Told

September 13, 2018 Taxation in New Zealand

sugar taxWELLINGTON – New Zealand’s Prime Minister has received direct advice to implement a sugar tax and start a greater campaign to fight obesity.

A new document provided to the Prime Minister of New Zealand and made public via an Official Information request is pushing for the implementation of a tax on sugar-sweetened drinks in New Zealand.

The document was authored by the Ministry of Health’s chief science advisor Dr John Potter, and was initiated at the request of the Prime Minister, Jacinda Arden.

It was set out that the consumption of sugar-sweetened beverages in New Zealand has increased in recent years, and may continue to do so in the near future.

The author claimed that recent academic studies around the world have provided an indication that a tax based on the sugar levels in a dri...

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New Zealand Sees Delay in Capital Gains Tax

September 10, 2018 Taxation in New Zealand

UK Taxman Targets Criminal OrganizationsWELLINGTON – New Zealand’s expected capital gains tax may not eventuate, as a working group delays recommending the measure.

New indications have emerged that the New Zealand Tax Working Group will not be recommending a full implementation of a Capital Gains Tax in its upcoming interim report.

The Tax Working Group was established by the New Zealand government shortly after the last election, and it was given the task of evaluating potential changes to the tax system.

The potentially recommended changes will form the basis of the Labour Party’s tax policy when going into the next election.

One major aspect of the Tax Working Group’s work is the evaluation of a possible tax on capital gains, as a means of addressing tax disparity between different investment types and also as a means of...

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Give Us Solar Panels and Win Our Vote, Say New Zealanders

September 3, 2018 Taxation in New Zealand

Los paneles solares una realidad en México.WELLINGTON – The next election in New Zealand could go to the party which promise to pay for residential solar panels and electric cars, according to a survey.

Last week the New Zealand research company, Horizon Research, issued the results of a new survey into the opinions of New Zealanders on the potential use of tax subsidies to reduce emissions and address climate change.

Approximately 64 per cent of people surveyed agreed that climate change is a problem, and approximately 29 per cent said that it was an urgent issue, while 30 per cent said that it was either a problem for later or not a problem at all.

Approximately 71 per cent of people who were surveyed said that they would support the introduction of subsidies on the purchase and installation of residential solar power systems.
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