IRD reviewing tax laws for trading banks
Revenue Minister Michael Cullen confirmed today that Inland Revenue and Treasury are reviewing the tax laws applying to trading banks to ensure they are robust.
"The work has been underway for around a year now and has included consultation with the banking industry and tax practitioners.
"I am expecting a report in the next few months and will consider at that time whether legislative change is necessary," Dr Cullen said.
Contact: Patricia Herbert [press secretary] 04-471-9412 or 021-270-9013. E-mail [email protected]