Hot Topics :

New Zealand to target online giants with digital tax

WELLINGTON (Reuters) – New Zealand said on Monday that it plans to update its laws so it can tax revenue earned by multinational digital firms such as Google, Facebook and Amazon, extending a global effort to bring global tech giants into the tax net.

Prime Minister Jacinda Ardern said the cabinet had agreed to issue a discussion document about how to update the country’s tax framework to ensure multinational companies pay their fair share.

“Our current tax system is not fair in the way it treats individual tax payers, and how it treats multinationals,” Ardern told reporters at her weekly post-cabinet news conference.

Highly digitalized companies, such as those offering social media networks, trading platforms, and online advertising, currently earn a significant income from New Zealand consumers without being liable for income tax, the government said in a statement released after the announcement.

Subscribe to All Around the World

Get your daily dose of news & info from All Around the World

Sign up to All Around the World for FREE and receive our daily emails.

Popular Topics

  • White House opens door to tolls on interstate highways, removing long-standing prohibition
  • BILL CLINTON: ‘I THANK GOD EVERY APRIL 15TH’ I GET TO PAY MORE TAXES
  • OBAMA EPA CHIEF REGINA MCCARTHY: POLLUTION HOLDS AFRICAN-AMERICANS BACK
  • NBA CAN’T LEGALLY TERMINATE STERLING’S OWNERSHIP
  • White House on defense over new Benghazi emails, claims controversial ‘prep call’ not about attack

Going Somewhere Soon?

Whether you're traveling for business or pleasure, playing with points or seeking another fabulous review, we can help. All Around the World editors have been there, done that, and probably eaten it too. Join us for travel, meal and lifestyle tips today.

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.