New Zealanders Wont Shift Businesses Overseas
New Zealanders are unlikely to move their business overseas for tax reasons, as they are generally happy with the New Zealand tax system as it is.
According to a new report published by the accounting firm Grant Thornton, owners of businesses in New Zealand are unlikely to shift their affairs overseas in order to reduce their tax obligations in New Zealand.
Approximately 94 percent of all New Zealand business owners participating in the survey claimed they would not move their business overseas in order to reduce their tax liabilities, while on average only 67 percent of business owners in other countries gave the same reply.
According to Murray Brewer, partner at Grant Thornton, said that New Zealand’s geographical isolation and the small size of an average New Zealand company were both deterrents from moving business overseas.
Further, he said that “…many New Zealand businesses are domestically focused and migration of head office is not commercially viable”.
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