Japan tagged posts
According to a KPMG survey, New Zealand has the seventh highest corporate tax rate in the OECD.
The KPMG 2009 Corporate and Indirect Tax Rate Survey, which investigates the corporate and indirect tax rates of the OECD for the 2009 year, has found that New Zealand holds the seventh highest corporate tax and one of the lowest indirect tax rates of the nations surveyed.
Ireland and Iceland had the lowest corporate tax rates in the survey, with 12.5% and 15% respectively. While New Zealand’s rate of 30% was rated 7th, with USA and Japan reigning the top spots at rates of 40% and 40.69% respectively.
The survey found that New Zealand holds the sixth lowest indirect tax rate in the world, with its 12.5% GST rate. Canada meanwhile has the lowest rate at 5%, and Denmark was the highest at 25%.
Prime Minister John Key is set to attend the APEC meeting in Lima, Per? on the 19th and 20th of November.
The Asia-Pacific Economic Co-operation (APEC) is most likely going to be based around the current economic situation of the world and the possible responses of all countries involved in the meeting. If the recently finished G20 summit is any indication, the economic situation will be the primary talking point.
The meeting is attended by 20 world leaders, and over 3600 delegates. Figures show that the trade between APEC countries accounts for almost half of that in the world and nearly 60 percent of the world’s Gross Domestic Product.
John Key is scheduled to meet the Queen of England, and the British Prime minister after the APEC meeting.
The current APEC countries are Australia,...Read More
The week ending 12th of October, saw continued falls in the New Zealand Stock Exchange.
Following Black Tuesday, the New Zealand Stock Exchange (NZX) has progressively closed on a down note. The last trading day of the week, Friday the 10th of October, saw a fall of 4.724%. This trend is continued to an even greater extent in markets throughout the world. By trading close on the Friday, the Japanese market closed 7.7 % down, with drops as low as 11%, and the Australian market saw a drop of over 8%. Trading on the NZX on the Friday was characterized by the NZSX-50, which was faced with the fact that there were only 9 rises throughout the day, and 94 falls.
Locally, solutions have been proposed from many parties...Read More
Double taxation agreements are tax treaties between two countries. These agreements come into effect when a person is a tax-resident of both New Zealand and another country.
Double Taxation agreements prevent the situation of taxation on one income by two countries, through coming to an agreement as to what incomes will be taxed in the country of residence and exempt in the country of occurrence. It also deals with the opposite case where the income will be taxed at the country of occurrence and compensation arises in the country of residence.
Double Taxation also extends to more comprehensive sharing of tax information between tax authorities.
New Zealand currently holds double taxation agreements with the following countries: