Dunne: Global Forum rates NZ tax co-operation highly
An international report issued by the Global Forum on Transparency and Exchange of Information for Tax Purposes gives New Zealand's tax administration a high pass mark measured against international standards, Revenue Minister Peter Dunne said today.
The Global Forum rates member countries on the key tax administration measures of transparency and exchange of information.
Mr Dunne welcomed the report from the Global Forum saying that the report indicated that New Zealand's laws and practices for international cooperation on exchange of information reach a high standard.
"The report gives a positive assessment of New Zealand's legal and regulatory framework and rates highly our exchange of information practices - based on input from our tax treaty partners".
"Our tax system rated very well measured against both these international standards, and I think that bears out the good, ongoing work we have done with regard to ensuring the integrity of our tax system and establishing extensive international exchange of information networks.
"A highly respected tax system is important in facilitating investment into New Zealand and makes it easier for New Zealand business to invest offshore." Mr Dunne said.
The evaluation of New Zealand's tax system by the Global Forum was a rigorous process involving an examination of New Zealand's legal and regulatory framework to gain an understanding of how the commercial and civil laws fit together to create an environment promoting transparency and exchange of information for tax purposes.
Mr Dunne said that the report noted only minor imperfections as recommendations and that he would be giving consideration to these.
The report on New Zealand was released today along with those for France, Isle of Man, Italy and the United States as well as phase one reviews of Hungary, the Philippines, Singapore and Switzerland.
The full report can be found at
[Direct link to report - http://www.oecd.org/document/28/0,3746,en_21571361_43854757_48080924_1_1_1_1,00.html ]
Mark Stewart | Press Secretary | Office of Hon Peter Dunne
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