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Govt should act now on OECD tax changes

National cannot delay timing and implementation of the OCED’s new tax changes and must act now to crack down on multinational tax avoidance, Labour’s Finance spokesperson Grant Robertson says.

“The OECD has announced significant proposed changes to base erosion and profit shifting (BEPS) that will make it harder for large multinationals to avoid their tax obligations in this country. But this will only happen if National implements the new rules.

“It is ridiculous for ministers to say ‘no decisions have been made by New Zealand on implementation or timing’.

 

“National has used these negotiations as an excuse to avoid cracking down on multinationals paying tax. There are no more excuses left. The time to at is now.

 

“Currently it is incredibly unfair that small Kiwi businesses pay their fair share of tax while some large foreign companies are able to avoid it.

 

“New Zealand will still remain an attractive place to do business if these rules are implemented. This is just about creating a level playing field.  

 

“There is no need to delay implementing these changes,” Grant Robertson says.