finance minister tagged posts

NZ To Expect Non-Traditional Recovery

August 11, 2010 New Zealand Finance

BeehiveThe New Zealand Government has said that the focus for the current economic recovery will be different than that of traditional recovery, with a focus on establishing sustainable long-term returns.

Tackling current imbalances in the New Zealand economy will not be a short-term task, and will require “relentless” long-term focus and policy reform. The analysis and the Government’s future policy outlook was released on August 11th, in a speech to the New Zealand Council for Infrastructure Development, by Bill English, Finance Minister of New Zealand.

The international credit environment is too constrained for New Zealand to readily address economic imbalances, and the recovery will be based on stable growth of earnings sectors, like exports...

Read More

Minister Applauds NZ’s Tax Competitiveness

July 3, 2010 International FinanceNew Zealand Taxation

Spaghetti JunctionThe 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 announced Budget measures will aid national businesses with the incentives to invest and increase exports...

Read More

Tourist GST Exemption Called For

June 6, 2010 International TaxationNew Zealand Taxation

Extremely Loud and Incredibly CloseIndependent 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 granted an exemption on any GST paid on purchases throughout their visit.

The comments were sparked by a speech given by Bill English, Finance Minister of New Zealand, in which he refuted the possibility of a GST-exemption system being created in th...

Read More

Tax Revenues Fallen in NZ

May 7, 2010 New Zealand Taxation

BeehiveThe 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 lowered tax revenues are due to decreased corporate income collections, and decreased provisional tax payments from individuals and source deductions...

Read More