JohnO <johno1234@gmail.com> wrote:

On Friday, 3 March 2017 16:10:33 UTC+13, nor...@googlegroups.com wrote:

http://www.stuff.co.nz/business/industries/90007639/tax-reforms-important-but-wont-make-good-soundbites-experts-warn

This should have been done many years ago - all previous governments are
culpable. This one is doing it.
Implementation may be difficult but it is worth it.
The comment about making it tougher to do business here is questionable.
Many countries do this already in one way or another, especially the USA who >> expect US based companies to pay tax there which is not an unreasonable
expectation!
Tony

The devil's in the detail. Clients of mine have to submit a statement to the >IRD on their transfer pricing to prove they aren't hiding the profit overseas. >I don't see why that wouldn't work for the local Googles and the like.

The multinationals I worked for all had to do that, it wasn't onerous. We had to keep two sets of booksso that we knew our local tax position and also knew our real contribution to the corporation.
It was good to be able to justify our continued existence as a business and at the same time pay local taxes and contribute to NZ. Simple stuff really. Transfer pricing is always the key.
Tony

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