NZ Rates Well In Tax Survey
December 1st, 2008
Despite detractors saying NZ has a high corporate tax rate, a new PricewaterhouseCoopers World Bank study shows NZ businesses are well off when it comes to the amount of tax the Govt takes. NZ is the 10th easiest country in which to pay tax and 8th best for having a system which takes the least amount of time a year for compliance.
The study shows a massive variation from the improbable 291% in the Gambia, to an unlikely 9% in the Maldives. Nations in the Middle East have some of the lowest taxes on commercial profits. Saudi Arabia’s rate is 14.9%, The United Arab Emirates has a 15% rate and Oman’s rate is 20%. Among economies… comparable with NZ, Finland has a high 47.9%, while Ireland’s rate is 25.8%. NZ is sitting on a creditable 36.5%, just above the UK on 35.4%.
But there’s a shock for those who think their businesses would be better off under the Aust tax structure. The survey shows Aust’s rate is 52.2%, described as barely competitive. Japan has a high 52.8%, while the US is on the high end at 46%. China and Hong Kong have a 28.8% rate.
The survey is based on 2006 figures, studied 175 countries and covers all taxes paid by companies. For the full report click here
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