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Category Archives: public finance
No more Tax Haven in New Zealand?
After a bit of a break from blogging, while doing some historical research, the situation has been moving in New Zealand. A new government was elected and there certainly has been some progress, some of it has an element of … Continue reading
Posted in public finance, tax havens, Uncategorized
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A Turning Point for tax evaders in New Zealand?
The 3rd of March 2017 may well be remembered for the beginning of the end for corporate tax evasion in New Zealand, as the revenue minister announced proposals to mitigate the profit shifting practices of multinational corporations in New Zealand. … Continue reading
Posted in Panama Papers, public finance, tax havens, Uncategorized
Tagged Akcine Bendrove Bank Snoras, Enviro (NZ) Ltd, Loan Consulting Ltd, Michael Taylor, Mossack Fonseca, Nesita Manceau, Orion Trust (NZ), Richard Murphy, RNZ, Roger Taylor, Ukrainian Trust (NZ) Ltd, Vladimir Antonov
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NZ PM lies about Cook Islands connection
The Panama Papers continue to cause confusion in New Zealand as the Prime Minister, John Key, comes under scrutiny for the first time. Yes, the first time. He has always supported the right wing agenda from the 1980s, to create … Continue reading
Posted in public finance, tax havens, Uncategorized
Tagged BIL, CFC legislation, European Pacific, IRD, John Key, Kensington Swan, Panama Papers, Winebox
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The Claytons Tax Haven in New Zealand
It came as a surprise to most people here in New Zealand that a tax haven was being run by a few law firms out of Auckland. Who knew? Well the National Party and officials in the Inland Revenue Department … Continue reading
Posted in public finance, tax havens
Tagged CFC legislation, foreign trusts, Greg Dwyer, IRD, John Key, National Party
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Tax Havens, the Cullen Fund, and the Labour Party
Here in New Zealand we don’t mention tax havens much. We got over that with the Winebox Inquiry in the 1990s, and nobody really wants to go there. They are debating the role of transnational corporations and profit shifting elsewhere … Continue reading
Posted in public finance, tax havens
Tagged green party, Labour Party, National Party, Stuart Nash
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Tax Avoidance: what goes around and comes around?
In the tax haven literature there is a term that always comes up: it’s called a ’round-trip’. In fact the definition of a round-trip has changed a bit over time, but basically it’s when funds are sent through a tax … Continue reading
Posted in public finance
Tagged Citibank, Eurobonds, National Party, Russell Norman, tax avoidance, tax havens
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Winebox: So what was Simon McArley’s role?
The Winebox was the collective term given to a number of transactions involving the Cook Islands tax haven by a company called European Pacific in the late 1980s. The company was owned by Brierley Investments, Fay Richwhite, and the Bank … Continue reading
Posted in public finance
Tagged Graham Turley, Simon McArley, Simon Tompkins, Winebox
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Poachers turned gamekeepers at IRD AND SFO
One of the features of the legal and financial elite in New Zealand is how they swap sides, from public to private sectors. Of course, in reality there aren’t sides at all, the elite is separated from the mass of … Continue reading
Posted in public finance
Tagged Graham Tubb. SFO, IRD, Kensington Swan, Simon McArley, Winebox
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Is New Zealand a tax haven?
A month or so ago there was a very interesting item on New Zealand’s TV3 network, in the local version of 60 Minutes. Reporter Guyon Espiner decided to take a closer look at the operation of non-resident trusts, and the … Continue reading
Posted in public finance
Tagged CFC legislation, European Pacific, Guyon Espiner, IRD, Peter Dunne
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More on printing money
The brief flirtation with the idea of printing money, or Q.E., continued last week in Parliament. The Prime Minister, John Key, was determined to make his point about hyperinflation when answering questions from the Greens. The questions were actually about … Continue reading
Posted in public finance
Tagged Graeme Wheeler, John Key, Reserve Bank, Russel Norman
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Shakespeare Bay 