🇳🇿 ‘Lost our nerve’: Winston Peters says Big Tech companies should be paying more tax in NZ
Lawrence D’Oliveiro <[email protected]>
| Newsgroups | comp.misc,nz.general |
|---|---|
| Organization | A noiseless patient Spider |
| Message-ID | <[email protected]> |
Big Tech companies get loads of revenue from NZ, but pay very little
back in tax
<https://www.stuff.co.nz/politics/360997144/lost-our-nerve-winston-peters-says-big-tech-companies-should-be-paying-more-tax-nz>.
This is typical of the accounting games they play:
An example he gives is Google NZ, which in 2024 had revenues of
$1.139bn but incurred ‘service fees’ of $1.052bn from its
Singapore-based subsidiary. It left a taxable profit of just $29m.
And yes, this kind of profit-and-loss merry-go-round is legal.
Provided you employ a high-priced tax consultant to tell you how to do
it right.
NZ First party leader Winston Peters says he’s in favour of those
companies paying more tax in NZ. But on the other hand he didn’t like
the idea of his own department dropping support for them by ceasing to
post on X/Twitter.
Some politicians are in favour of legal measures to force a
behavioural change. But on the other hand, fear of how the current 🇺🇸
President might react has been slowing progress ...
<https://www.stuff.co.nz/nz-news/360996333/diminishes-us-country-what-we-lose-when-govt-gives-16m-ad-money-social-media>.