Category International Taxation

Tax Rebates Cause Too Much Cheap Wine

September 28, 2011 International TaxationNew Zealand Taxation

Wine taxesAustralian winemakers are calling for a revision of tax measures which they say are allowing the market to be flooded with product, and reducing profits in Australia and New Zealand.

Two Australian winemakers, Premium Wine Brands and Treasury Wine Estates, are calling for a removal of the currently active Wine Equalization Tax (WET), which they claim is unjustly supporting economically unsustainable wine producers in Australia and New Zealand.

The WET system is a value based tax which is charged on all Australian and New Zealand wines that are sold in Australia. Under the current WET scheme, wine producers are able to claim rebates on all wines sold in Australia, up to a maximum of AUD 500,000...

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NZ’s Tax Info Exchange Mechanisms Win International Approval

June 2, 2011 International TaxationNew Zealand Taxation

Analyzing Financial DataA recent international review has praised New Zealand’s tax information exchange mechanisms, describing them as effective and well complemented by the country’s extensive network of international tax information exchange agreements.

New Zealand’s implementation of international tax information exchange mechanisms were evaluated in an international peer review led by the Global Forum on Transparency and Exchange of Information for Tax Purposes, with a report on the findings being released on June 1st.

According to conclusions drawn in the report, the New Zealand government and the New Zealand tax authorities have satisfactorily implemented international standards for tax information exchange and transparency...

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John Key to Attempt Departure Tax Negotiation

January 17, 2011 International TaxationNew Zealand Taxation

Long haul, 8 Sept. 2008The New Zealand Prime Minister will soon conduct talks with the UK Foreign Minister, in hopes of addressing the Britain’s high airport departure tax.

On January 16th the Prime Minister of New Zealand John Key indicated that he will attempt to persuade British Foreign Minister William Hague to reconsider the UK’s upcoming airport departure tax. The Prime Minister believes that the tax could be especially harmful to New Zealand’s tourism industry, and even undercut the economic impact of the upcoming Rugby World Cup.

The British Foreign Minister is expected to arrive in New Zealand on January 20th, along with the Defense Secretary Liam Fox. The visit will last two days and is expected to consist of several ceremonial visits, along with numerous political discussions...

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Tax Funded Educations Debated in Australia

December 31, 2010 International FinanceInternational Taxation

Bond UniversityThe Green Party of Australia has spurned new debate in Australia after proposing that Australians be able to receive free tertiary educations.

On December 30th the Australian Green Party outlined its agenda for 2011, which included a proposal to establish a system which would use the profits arising from mining taxes to fund free tertiary education for all Australians.

The Green Party believes that introducing a system of tertiary education would cost approximately AUD 2.5 billion. The funding would be sourced entirely from the upcoming Mineral Resource Rent Tax (MRRT), which could come into effect as early as July 2012...

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