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Tax on internet giants must be revenue neutral

Press Release – New Zealand Taxpayers’ Union

Responding to the Governments stated intention to introduce a new tax on foreign internet companies , New Zealand Taxpayers Union spokesman Louis Houlbrooke says: Taxing foreign corporates will be popular with the public, but its also hugely …Responding to the Government’s stated intention to introduce a new tax on foreign internet companies, New Zealand Taxpayers’ Union spokesman Louis Houlbrooke says:

“Taxing foreign corporates will be popular with the public, but it’s also hugely convenient for the politicians, who will receive an extra $50 million or so in new revenue. The question is whether this revenue will be squirreled away for election bribes, or whether average taxpayers will see corresponding relief in the form of tax cuts.”

“If the Government insists on breaking its ‘no new taxes’ promise, it should at least follow the spirit of the promise by committing to revenue neutrality.”

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