The New Zealand Finance Minister has claimed that the upcoming decrease to corporate tax rates will increase the countries international competitiveness and economic efficiency. On July 2nd Bill English, Finance Minister of New Zealand, praised the country’s planned corporate tax rate decrease. The statement came as a response to the Australian Government’s announcement that its national corporate tax rate will not be reduced below 29 percent until fiscal conditions permit. According to Bill English, the New Zealand 28 percent tax rate, combined with previously ... Read More

The New Zealand Government has reported a fourth quarter of Gross Domestic Product (GDP) growth for the economy, but emphases the need to ensure sustainability. On June 24th the New Zealand Government released a statement announcing a GDP growth figure of 0.6 percent for the March quarter. Additionally, the Government revised its growth estimates for the December quarter, from 0.8 percent to 0.9 percent. Bill English, Finance Minister of New Zealand, commented on the economic results, saying, "The continuing recovery is good news. ... Read More

Independent business groups are calling for the New Zealand Government to institute a new Goods and Service Tax (GST) exemption system for visiting overseas-residents. On June 5th Cameron Brewer, CEO of the Newmarket Business Association, issued a statement supporting Ann Lockhart, CEO of the Queenstown Chamber of Commerce, who on the same day called for a revised GST-exemption program to be instituted for foreign visitors. Under the proposal, overseas nationals could present their purchase invoices at a New Zealand international airport and be ... Read More

The New Zealand Government has reported lower than projected tax revenues for the nine months ending March 31st. The fall has been blamed on weaker than expected business activity. On May 7th the New Zealand Government issued a statement revealing a 2.4 percent fall in tax revenues, compared to earlier Half-Year Update in December. The Government has revealed that it now expects tax revenues to be below previous expectations for the entirety of 2010, and perhaps also 2011. According to the statement the ... Read More