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New Zealand will be strongly aligned with the OECD in tackling the issue of fairly taxing multinationals, Revenue Minister Peter Dunne said today.

He said transparency was important in New Zealand operations generally.

“It is part of the Government’s better public services work and as part of this work, there has been on-going consideration of the role of tax secrecy and how to retain its important principles, yet actually achieve what we need to in a complex financial and corporate world,” he said.

Revenue Minister Peter Dunne today praised Telecom for leading the way for large corporates in supporting payroll giving, as the Telecom Foundation hit $1 million in donations to New Zealand charities, schools and community groups.

“Telecom and the Telecom Foundation have shown the way on payroll giving since they came on board with the scheme 18 months ago,” Mr Dunne said.

Proposals in an Inland Revenue officials’ issues paper released today would bolster the taxation of highly leveraged investments made by foreigners, through changes to the thin capitalisation rules, Revenue Minister Peter Dunne said.

“I referred in December to upcoming proposals for strengthening New Zealand’s tax laws and I am pleased to see these now released,” he said.

New Zealand is on the right track on the issue of taxing large multinationals and is committed to working with the OECD and co-ordinating closely with Australia, Revenue Minister Peter Dunne said today in releasing an officials’ report on the issue.

“It is a problem facing many countries, but no one country can solve it alone. It is a global issue and it will have a global solution, and New Zealand is constructively working on being part of that solution,” Mr Dunne said.

Specially trained pharmacists will soon be able to prescribe medication, making access to medication easier for some patients, Associate Health Minister Peter Dunne announced today.

In line with moves already successfully made in Britain, the United States and Canada, clinical pharmacists will be able to undergo special training and competency assessments to register in a new advanced scope of practice developed by the Pharmacy Council with the support of Health Workforce New Zealand.

The Government will move to simplify the rules relating to financial arrangements that are agreements for the sale and purchase of property or services, Revenue Minister Peter Dunne announced today.

Mr Dunne said the changes reflect concerns expressed by a number of business taxpayers and their representatives over the past few years.

“The proposed changes will have a beneficial impact on business taxpayers who sell or buy property or services. They will be particularly welcomed by businesses who export and import capital equipment,” he said.

Associate Health Minister Peter Dunne said today signalled the launch of Rising to the Challenge, a new national five-year plan for mental health and addiction.

“There has been considerable change in mental health, and in the last 20 years mental health funding has risen more than four-fold to $1.2 billion in the 2010/11 year,” Mr Dunne said.

“And among this, services have grown significantly particularly in community care where three quarters of mental health funding is now invested.

Associate Minister of Conservation Peter Dunne has welcomed the report of the Local Government and Environment Select Committee on the Game Animal Council Bill sent back to the House today.

“I thank the select committee and particularly the Chair, Nicky Wagner, for their work on this Bill and I look forward to successfully shepherding it through its remaining stages during the first half of next year,” Mr Dunne said.

Changes to the tax treatment of employer-provided car parks, lease inducement payments and lease surrender payments, and including more non-cash benefits in income calculations for social assistance entitlements are key proposals being added to a tax bill before Parliament, Revenue Minister Peter Dunne said today.

Mr Dunne said the changes were in a Supplementary Order Paper (SOP) to the Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters Bill released today.

New Zealand and Japan have signed a new double tax agreement to replace the existing 1963 treaty, Revenue Minister Peter Dunne announced today.

Tax systems around the world are adjusting to corporate giants with huge internet footprints, but very little physical presence, Revenue Minister Peter said today in addressing issues around the tax treatment of large multinational companies.

“The reality is that tax regimes internationally have generally been developed for an industrial age, and have struggled to keep pace with new business models and technologies not contained by location or national borders,” Mr Dunne said.

Associate Health Minister Peter Dunne today announced that he will establish an independent expert committee early next year to set the approval standards legal highs will need to meet.

Mr Dunne said he had directed the Ministry of Health to develop a regulatory regime consistent with international best practice, avoiding animal testing wherever possible.
He confirmed that he has ruled out the controversial LD50 test, but said that it was still early in the process of developing the new regime and no other decisions had been made.

Associate Health Minister Peter Dunne has ruled out the controversial LD50 animal test as part of the pending psychoactive substances testing regime, and said no decisions have been made on whether animal testing will be needed at all.

“And no decisions will be made without consultation with other ministries and appropriate ethics committee consideration,” Mr Dunne said.

Labour Revenue spokesman David Clark is making a habit of going off half-cocked, with the latest example of his comments on the tender process for updating Inland Revenue’s computer system, Revenue Minister Peter Dunne said today.

“Yet again it is a case of ‘Ready! Fire! Aim!’ from Dr Clark,” Mr Dunne said.

“He needs to gather his facts and then see if they align to his very obvious political intentions before shooting from the lip.”

Revenue Minister Peter Dunne today launched two new tax scholarships named after Robin Oliver, a leading light in New Zealand tax policy in recent decades.

Mr Dunne said the scholarships will benefit New Zealand and its economy by supporting continued high quality tax policy.

The Tax Policy Scholarship Award and the Tax Policy Lecture Visit will jointly be known as the Robin Oliver Tax Policy Scholarships, and administered by the Tax Policy Charitable Trust.

Associate Health Minister Peter Dunne today announced a Temporary Class Drug Notice banning a substance found in tested samples of the K2 synthetic cannabis product.

I am delighted to have been invited to address you on a sector that plays an increasingly significant role in our society and which is of particular importance to me.

 The success of the not for profit sector is something that I personally am deeply interested in, so when

I began to think about my remarks today I focused on two questions.

First, why exactly should the Government, through the tax system provide support for the not-for-profit sector? 

Revenue Minister Peter Dunne today welcomed an Inland Revenue tax policy issues paper regarding the tax treatment of employee allowances.

“Essentially, the proposed changes are to make the rules easier to apply,” Mr Dunne said.

The paper, Reviewing the tax treatment of employee allowances and other expenditure payments, suggests a number of changes to the tax treatment of certain payments to cover expenses such as meals, accommodation, clothing and cellphones. 

I am very pleased to be here with you today to open the Community Action Youth and Drugs 2012 National Hui.

Labour’s Revenue spokesman David Clark has scored an own goal with his attack on Inland Revenue staff turnover rates, mixing up call centre rates with those for the overall organisation, Revenue Minister Peter Dunne said today.

Dr Clark claimed that Inland Revenue had staff turnover rates of between 24 and 34 percent in the main centres, with the highest in the department’s Wellington headquarters.

Revenue Minister Peter Dunne today signed a protocol to amend the existing double tax agreement with Malaysia, which will now better equip both nations to exchange tax information to combat tax evasion.

"Double tax agreements help New Zealand-based businesses compete abroad and help make New Zealand a more attractive place to invest in by reducing tax impediments to cross-border income-earning,” Mr Dunne said.

Mr Dunne said updating the DTA with Malaysia is the latest in a series of initiatives New Zealand has undertaken to stamp out tax evasion.

KiwiSaver membership hit two million, with almost one in three children and two-thirds of young adults signed-up by the end of the 2011-12 year, Revenue Minister Peter Dunne said today.

"Overall, membership grew by about 12 percent in this 12-month period," Mr Dunne said in releasing the fifth KiwiSaver evaluation annual report.

"The report shows that almost 29 per cent of children and nearly 67 per cent of 18 to 24 year olds were enrolled in KiwiSaver by the end of the 2011-12 year

Revenue Minister Peter Dunne has welcomed the Social Services Committee report to Parliament on the Child Support Amendment Bill, saying the Committee’s recommendation that the bill be passed, was “a step closer towards a fairer, more efficient scheme for the parents and children involved”.

Evading paying tax has just become significantly more difficult, Revenue Minister Peter Dunne said today in announcing that New Zealand has signed the multilateral Convention on Mutual Administrative Assistance in Tax Matters.

Mr Dunne said that signing the Convention was another important step for New Zealand in the fight against tax evasion.