Figures in the New Zealand Herald raise serious concerns about the amount of tax paid by offshore corporations and should see action by the Government, says Labour’s Finance spokesperson Grant Robertson.
“Most commentators agree some large corporations are avoiding paying tax and acknowledge it is a widespread global issue. Other countries such as the United Kingdom and Australia have held inquiries that have revealed highly dubious practices in some cases.
“New Zealand should do the same. The public must have confidence the tax system isn’t being treated with contempt. This is a situation where action is needed at both national and international level.
“There’s a fundamental issue here. Every person and business that earns money here should pay their fair share of tax. If a salary worker pays their full tax, so should an international company.
“It’s time for a full inquiry into the tax practices of overseas corporations and for the Government to take action to ensure they pay their fair share,” says Grant Robertson.