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September 27, 2013 New Zealand Taxation
The Green party is calling foul over New Zealand Super’s use of “tax havens”, but the Fund has hit back on the claims.
In a press release issued on September 26th the New Zealand Green Party claimed that the New Zealand Superannuation Fund has been “…caught using tax havens.”
The Green Party’s claims stem from the answers to parliamentary questions from the co-leader of the party, Russel Norman, to the Minister of Finance Bill English, in which the Minister cofirmed that approximately 7 percent of the investment made by the Fund are put into collective investment vehicles currently registered in low-tax jurisdictions, such as the Cayman Islands, the Isle of Mann, the British Virgin Islands, and Mauritious.
Russel Norman accused the government of upholding a double standard, saying...Read More