INDEPENDENT NEWS

Double standard on tax - Prebble

Published: Tue 24 Aug 1999 04:55 PM
Tuesday 24th Aug 1999
Richard Prebble
Media Release -- Governance & Constitution
Double standard on tax - Prebble
Parliament was amazed to learn today that Winston Peters as Treasurer was writing secret letters to the Minister of Revenue Bill Birch objecting to the closing of tax loopholes that were of benefit purely to big business who are able to claim bogus foreign tax credits.
ACT Leader Richard Prebble says the revelation shows a complete double standard on tax.
"Mr Peters in public presents himself as the scourge of big business tax avoiders but in office and in secret he acted to keep open one of the tax loopholes used for the Magnum transaction," Mr Prebble said.
"The High Court has not said that such transactions are fraudulent but that they might be. Mr Peters is making a party political point rather than taking practical steps to secure the tax base.
"It does raise the question as to whether Mr Peters has deliberately prolonged the winebox affair solely for personal party political advantage. Mr Peters appears to have a double standard on tax - one in public, and one in secret when in office."
ENDS
For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

Next in New Zealand politics

Concerns Conveyed To China Over Cyber Activity
By: New Zealand Government
GDP Decline Reinforces Government’s Fiscal Plan
By: New Zealand Government
New Zealand Provides Further Humanitarian Support To Gaza And The West Bank
By: New Zealand Government
High Court Judge Appointed
By: New Zealand Government
Parliamentary Network Breached By The PRC
By: New Zealand Government
Tax Cuts Now Even More Irresponsible
By: New Zealand Labour Party
View as: DESKTOP | MOBILE © Scoop Media