Progressive company tax would be a nightmare
14 MARCH 2018
The New Zealand Taxpayers’ Union is alarmed that the Tax Working Group is floating a progressive company tax.
Taxpayers’ Union Executive Director Jordan Williams says, “Sir Michael Cullen has floated opening the same loophole that
Australia is finally closing."
"Having multiple tax rates might benefit tax lawyers, but it presents administrative costs and perverse incentives to
growing businesses. It would reward unprofitable start-ups while punishing businesses that hundreds of thousands of
workers rely on for employment.”
“We currently have a fairly simple tax system – let’s keep it that way. If lower tax is good enough for small
businesses, it’s good enough for all businesses.”
ENDS