Apple New Zealand Must Now Pay Fair Rate of Tax

Press Release – Oxfam

Apple New Zealand Must Now Pay Fair Rate of Tax, Says Oxfam, Following European Ruling31 August 2016

Apple New Zealand Must Now Pay Fair Rate of Tax, Says Oxfam, Following European Ruling

Apple New Zealand, and all tax avoiding corporations, must pay their fair share of taxes says Oxfam today, following the European Commission ruling that Apple should pay up to NZ$20 billion in back taxes to the Irish Government.

Last year, Apple’s New Zealand company, called Apple Sales New Zealand, raked in over NZ$730 million in sales. However the company shelled out under NZ$9 million in income tax to Inland Revenue, a rate of just over one per cent.

Rachael Le Mesurier, Oxfam New Zealand’s executive director, said:

“When there is so much inequality and poverty, it is utterly unacceptable that large corporations like Apple don’t pay their fair share of taxes. The company is making hundreds of millions of dollars here in New Zealand, but appears to be paying a tax rate of just over one per cent. That can’t be right, and must be fixed.

“The schemes and deals that allow multinationals to minimise their tax, whilst legal, cannot be tolerated. If people are to have trust in the tax system, all governments, including New Zealand, must act immediately to end tax dodging.

“Companies must be forced to disclose where they generate their profits and where they pay their taxes. This would give governments and civil society the ability to hold these companies to account.”

ENDS

Content Sourced from scoop.co.nz
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