OECD tagged posts
May 12, 2010 New Zealand Taxation
The Organization for Economic Cooperation and Development (OECD) recently published new data cataloging personal taxation burdens of tax payers in member nations. The release shows that New Zealanders are faced with one of the lowest overall tax burdens in the OECD.
On May 11th the OECD publicized its latest Taxing Wages data, an annual publication cataloging year-to-year changes in personal taxation burdens among member states. The data concentrates primarily on calculation of nations’ tax wedge levels. For a single earner with no children, New Zealand is shown to hold the second lowest total tax wedge in the OECD, at a level of 18.4 percent. Mexico is recorded to have the lowest tax wedge, at 15.3 percent. The OECD average tax wedge was shown to be nearly 36.4 percent...Read More
New Zealand has signed Tax Information Exchange Agreements (TIEA) with St Vincent and the Grenadines, and Dominica.
On March 17th Peter Dunne, New Zealand Revenue Minister, announced that New Zealand had signed two new TIEA agreements, bringing the national total to 15. The newly signed bilateral agreements are Organization for Economic Cooperation and Development (OECD) model documents which provide a internationally agreed upon standard for the exchange of tax data between participating nations in civil and criminal investigations. The new TIEAs will come into effect when each country in the agreement gives legal effect to the document, which in New Zealand occurs by Order of the Council.
TIEAs have become an important benchmark for nations as means of demonstrating commitment to interna...Read More
April 20, 2009 New Zealand Finance
New Zealand Prime Minister John Key has said that the upcoming budget will be more frugal in comparison to previous governments.
In an interview with the Financial Times (FT) John Key said that fears of a credit rating downgrade by rating agency Standard & Poor’s from New Zealand’s current AA+, is what is apparently keeping the upcoming New Zealand budget at a constrained level.
As such, there is a need to cut governmental spending and by necessity includes any further financial stimulus for New Zealand. These comments are partnered with an OECD report which states that New Zealand is likely to remain in a recessionary state throughout 2009 and possibly recover “hesitantly” in 2010.Read More