September 16, 2016 New Zealand Finance
On September 15th New Zealand saw the first conviction handed out for the charge of human trafficking.
A Papatoetoe man, Foraz Ali, was convicted of trafficking 15 Fijian nationals to New Zealand to subject them to work for minimal pay and under poor conditions.
Each of the victims was told by Foraz Ali that for a fee of NZD 4 000 they would receive employment in New Zealand paying as much as NZD 900 per week.
However, upon arrival into the country, the workers found that they would ultimately be paid only NZD 100 per week.
Further, the workers were not granted any valid work visas, and, instead, were granted 1 month visitor visas.
Foraz Ali is scheduled to be sentenced in October.
In New Zealand the charge ...Read More
September 14, 2016 New Zealand Finance
The number of guest nights seen in New Zealand in July has risen compared to last year, but fallen if the number is seasonally adjusted.
New information released earlier this week by Statistics New Zealand indicates that holiday makers in New Zealand are staying for longer periods.
Over the course of July 2016, the number of guest nights among international visitors rose by 15.8 percent compared to the same month in 2015.
Similarly, the number of domestic guest nights over the course of July 2016 rose by 2.0 percent compared to the same month in the previous year.
The increase in tourist numbers was felt more keenly in the North Island where the total guest nights increased by 7.4 percent, while the rise was only 6.0 percent in the South Island.
However, despite the increases, the seas...Read More
September 8, 2016 New Zealand Taxation
Auckland needs a regional fuel tax in order to fund the development of roads and rail, according to Phil Goff.
In a radio interview aired this week, the Mayoral candidate for Auckland Phil Goff suggested that the city may need to implement a fuel tax in order to pay for the expansion of the roading system.
He claimed that if an Auckland-specific tax is not introduced soon, then the local traffic gridlock will continue to get worse.
He explained that in the Auckland approximately 800 new cars come onto the street every week, but infrastructure is not developing in line with the growing pressures.
Implementing an Auckland-specific road tax would raise as much as NZD 120 million per year, allowing authorities to borrow another NZD 200 million per year to pay for a light rail system betwee...Read More
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