Small Business Minister Stuart Nash will next week launch the 2018 series of small business roadshows. The roadshows give business owners the opportunity to learn more about assistance available from the Government.
Taking Care of Business is a series of 12 events across New Zealand between May and August. The roadshows bring together the private sector with representatives from government agencies to explain what they do and how they can help small businesses.
“This Government is working to give every small business in New Zealand the tools and the confidence to meet their potential, and realise their goals as a business,” says Mr Nash.
“New Zealand is a nation of small businesses. This roadshow is designed to help these firms get the most out of their interactions with the Government so they can spend more time on what they do best.
“As well as playing a regulatory role the Government offers a range of services to help businesses be successful. We help owners and operators tap into these resources.
“Whether a small business is worried about meeting health and safety legislation, tax or ACC obligations, or if they want to find help to grow their business, they have someone they can talk to directly.
“Government agencies do a lot for small business, whether it’s providing advice on compliance or ways to improve innovation, growth and productivity. There will also be an opportunity to hear about Budget 2018 support for the business sector,” Mr Nash says.
The roadshow events include short presentations from up to fifteen government agencies. These include ACC, WorkSafe, Immigration New Zealand, Inland Revenue, the Ministry of Social Development, the Ministry of Business, Innovation and Employment, New Zealand Trade and Enterprise and StatsNZ.
“There will be opportunities to ask questions and have face to face discussions. Expert advisors will be on hand with practical information,” Mr Nash says.
“For example Immigration New Zealand will discuss how to find, bring and keep the best skilled migrants when a business can’t recruit within New Zealand. Regional Business Partners’ Growth Advisors will explain how they can help a business connect with the right resources and experts to build capability and grow, and IPONZ will explain different types of intellectual property and give some simple tips.
Events will be held in the following towns and cities:
- Wellington, 29 May
- Levin, 30 May
- Rotorua, 5 June
- Taupo, 6 June
- Napier, 7 June
- Matamata, 21 August
- Auckland (East), 22 August
- Auckland (Pasifika) 23 August
- Queenstown, 27 August
- Dunedin, 29 August
- Christchurch, 30 August
- Westport, 31 August
For further detail, visit: www.business.govt.nz/news/2018-small-business-roadshows/
New legislation to improve the fairness of the tax system and prevent large multinationals from exploiting rules in order to shift their profits offshore has passed another step closer to becoming law.
Revenue Minister Stuart Nash has taken the Taxation (Neutralising Base Erosion and Profit Shifting) Bill through its second reading in Parliament. Detailed debate will continue during the Committee stage once the House resumes in June.
“New Zealand and other countries are taking action to prevent multinational corporations from engaging in aggressive tax planning. This practice, known as base erosion profit shifting, or BEPS, is a challenge for tax systems around the world,” says Stuart Nash.
“The tax strategies mean that some large multinational companies pay little tax in New Zealand, or, in fact, anywhere else in the world, despite having a significant economic presence here. This threatens the revenue base that Governments need to deliver public services and erodes the overall fairness and integrity of our tax system. It distorts competition and effective and efficient allocation of resources and enables some multinationals to exploit tax rules to get an advantage over other businesses.
“The tax system must be fair for all income earners, regardless of their size or the complexity of their arrangements. The Taxation (Neutralising Base Erosion and Profit Shifting) Bill contains a comprehensive package of measures designed to combat BEPS, ensure fairness and equity and improve the integrity of the tax base”, says Mr Nash.
The changes will prevent multinationals from using BEPS strategies, including:
- artificially high interest rates on loans from related parties to shift profits out of New Zealand
- related-party transactions which are intended to shift profits to offshore group members in a manner that does not reflect the actual economic activities undertaken in New Zealand and offshore
- hybrid mismatch arrangements that exploit differences between countries' tax rules to achieve an advantageous tax position
- artificial arrangements to avoid having a taxable presence or a permanent establishment in New Zealand
- tactics to stymie an Inland Revenue investigation, such as withholding relevant information that is held by an offshore group member.
“New Zealand's response to BEPS is generally aligned with Australia's tax legislation and broadly consistent with the OECD and G20 action plan,” says Mr Nash.