Jan 12, 2010
A New Zealand union has called for the government to increase regulations on the banking sector, claiming that the country’s four largest banks paid over 220 percent of their profits in dividends while lowering conditions for workers. The New Zealand finance sector union Finsec has cried out in protest to ANZ, Westpac, BNZ and ASB [...]
A New Zealand union has called for the government to increase regulations on the banking sector, claiming that the country’s four largest banks paid over 220 percent of their profits in dividends while lowering conditions for workers.
The New Zealand finance sector union Finsec has cried out in protest to ANZ, Westpac, BNZ and ASB banks paying out large dividends while allegedly making jobs redundant, freezing wages and outsourcing work. According to Finsec, the combined profit in 2009 for the four largest banks ... Read More
Dec 30, 2009
Five years of legal wrangling has ended in a NZD2.2 billion settlement reached between the New Zealand Inland Revenue Department (IRD) and the country’s four largest banks. The multi-billion dollar agreement between the IRD and four Australian-owned banks, the Bank of New Zealand (BNZ), ANZ National (ANZ), Westpac and ASB Bank ,was announced in a [...]
Five years of legal wrangling has ended in a NZD2.2 billion settlement reached between the New Zealand Inland Revenue Department (IRD) and the country's four largest banks.
The multi-billion dollar agreement between the IRD and four Australian-owned banks, the Bank of New Zealand (BNZ), ANZ National (ANZ), Westpac and ASB Bank ,was announced in a settlement by Peter Dunne, New Zealand Minister of Revenue on December 23rd. The settlement, believed to be the largest in the country's history, revolves around alleged tax ... Read More
Jul 23, 2009
Both Moody’s and Standard & Poor’s credit rating agencies have affirmed that they will not be changing their outlook on the New Zealand banks involved with tax payback cases. Following a High Court decision in which BNZ bank was found liable to pay $416 million in unpaid taxes and a possible $238 million in use [...]
Both Moody's and Standard & Poor's credit rating agencies have affirmed that they will not be changing their outlook on the New Zealand banks involved with tax payback cases.
Following a High Court decision in which BNZ bank was found liable to pay $416 million in unpaid taxes and a possible $238 million in use of money interest, thoughts have been centered around how this would affect the banking institution. ANZ bank, Westpac and the owner of ASB, the Commonwealth Bank of ... Read More
Jul 23, 2009
Both Moody’s and Standard & Poor’s credit rating agencies have affirmed that they will not be changing their outlook on the New Zealand banks involved with tax payback cases. Following a High Court decision in which BNZ bank was found liable to pay $416 million in unpaid taxes and a possible $238 million in use [...]
Both Moody's and Standard & Poor's credit rating agencies have affirmed that they will not be changing their outlook on the New Zealand banks involved with tax payback cases.
Following a High Court decision in which BNZ bank was found liable to pay $416 million in unpaid taxes and a possible $238 million in use of money interest, thoughts have been centered around how this would affect the banking institution. ANZ bank, Westpac and the owner of ASB, the Commonwealth Bank of Australia ... Read More
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