Nat party revenue Minister Michael Woodhouse enthusiastically buys into the left wing idea that govts can profit by tightening taxation laws covering multi-national corporations.
The Nats just signed up to an international agreement called “Competent Authority Agreement on the Exchange of Country-by-Country Reports”
Says Mr. Woodhouse
“This Agreement delivers on one of the recommendations in the OECD’s BEPS Action Plan and builds on Inland Revenue’s work to ensure that large multinationals pay their fair share of tax.”
(BEPS stands for base erosion and profit shifting )
Now, for the sake of the argument, lets assume these companies are not paying their fare share. So things are going to change, and if indeed these companies that previously avoided their tax obligations are going to be paying more, we can expect pretty significant reductions in personal income tax rates.
You reckon???? I’d bet my house the corporations will pay little if any more, and even if it is a significant amount, you can damn well bet these socialist thieves are not going to deliver coincident cuts to personal taxpayers.
Just more Nat party smoke and mirrors, and more appeasement rather than the confrontation of the left they should be engaging in. If they had the guts.