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Five-year tax holiday for overseas tax dodgers

National has just gifted a five-year tax holiday for foreign companies dodging their tax payments, says Revenue spokesperson David Clark.

“Todd McClay has pretended he is doing something about overseas companies dodging their tax duties by joining an international initiative but he admits nothing will happen for five years.

“This isn’t good enough. While international cooperation is important the Government should be looking at moves it can take right now, not some time in the future.

“It’s a simple principle. If you make a profit here, you need to pay tax here,” David Clark says.