Monthly Archives January 2014

Facebook Must Pay More Tax, Or be Banned

January 29, 2014 New Zealand Taxation

FacebookFacebook needs to pay more tax, or face the possibility of a ban from New Zealand, according to a Labour Party spokesperson.

In a television interview on January 29th the revenue spokesperson for the Labour Party David Clark indicated that the government should reserve the power to ban access to the social media website Facebook, if the global social network does not pay more tax on earnings derived in New Zealand.

According to David Clark, the ability to ban a website such as Facebook should be an ability reserved and held by the government as a “credible threat” in cases of non-compliance.

The Labour Party has previously criticized Facebook several times, claiming that the global giant does not pay enough taxes in New Zealand, pointing out that in recent years the business has raised...

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R&D Needs More Backing

January 14, 2014 New Zealand FinanceNew Zealand Taxation

Tax deductionsResearch and development activity could be a major boon for New Zealand, however, this sector receives little to no government support.

According to a new statement issued by the accounting firm Grant Thornton on January 12th, tax incentives for research and development activity conducted in New Zealand could be a major contested point among political parties during this November election.

Incentives for research and development activity came out as the highest priority among business leaders in the country, according to the result of a survey conducted by the accounting firm.

In the newly issued statement it was noted that the government already does have a system to incentivize research and development activity, with a fund which may provide dollar-for-dollar funding to businesses engag...

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