Category International Finance
New Zealand companies will find it easier to meet reporting requirements in the EU, as their local auditors will soon be recognized in Europe.
In a statement issued on August 30th the Minister of Commerce and Consumer Affairs Paul Goldsmith announced that the European Union has taken the decision that New Zealand auditors shall be recognized in the EU.
Under the scope of the new recognition any New Zealand registered company which is listing or listed in the EU “…can continue to have their statements audited in New Zealand since they will be treated the same as if they were audited in Europe.”
Explaining the significance of the change, Paul Goldsmith said “…for investors both in New Zealand and overseas the recognition of equivalence in the New Zealand systems means they can have co...Read More
The Reserve Bank does not have any quick tools or solutions which can bring down the overly-inflated value of the New Zealand dollar.
In a speech delivered last week to the New Zealand Manufacturers and Exporters Association in Auckland, the Governor of the Reserve Bank of New Zealand graham Wheeler said that the high value of the New Zealand dollar was not the only factor affecting the manufacturing industry in the country.
The Governor’s comments were aimed at quelling recent allegations that the Reserve bank should do more to decrease the value of the New Zealand dollar in order to aid the country’s manufacturing sector.
While Graham Wheeler did concede that the New Zealand dollar is currently significantly overvalued, he also said that the Reserve Bank had no simple solutions to addr...Read More
Australia and New Zealand could synchronize their carbon tax systems in the future, unless the tax is repealed in Australia following the upcoming election.
Speaking in a radio interview on June 2nd, the Prime Minister of New Zealand John Key said that New Zealand and Australia could harmonize their carbon tax systems in the future in order to improve the operational efficiency of the taxes across both countries.
John Key explained that the New Zealand carbon tax system and the Australian carbon tax systems were originally designed to work in unison and could take full advantage of the two country’s close economic relationship.
He went on to underline the importance of eventually harmonizing the taxes, saying that it would be economically detrimental for New Zealand to be in a situation wh...Read More
New Zealand has a policy framework and regulations that actively encourage economic openness and resilience, leading the country to be ranked as having the fourth freest economy in the world.
According to the Index for Economic Freedom for 2012, published by the Heritage Foundation and the Wall Street Journal on January 12th and examining economic conditions and market regulations in countries around the world, in 2011 New Zealand was ranked the 4th country in the world for its market freedom, regulatory efficiency, the role of government in the market, freedom from corruption and the effectiveness of the legal system.
New Zealand was given an index score of 82.1, from a possible maximum of 100. The average score across all countries ranked in the index was 59...Read More