PLUS: Government looks at reversing the move, made in 1998, to allow most New Zealanders to no longer file tax returns.
Revenue Minister Todd McClay announced the proposal to introduce a form of "business PAYE" among a raft of other possible reforms contained in green paper seeking public submissions by May 29.
The Act leader will get a sympathetic hearing: Bill English recently called inflation “the politician and the tax gatherer’s friend, and the saver’s enemy.”
Large NZ firms like Fonterra, Fletcher Building, F&P Healthcare and Xero are are moving into offshore markets whose governments might quite like them to pay tax there rather than here
Mr McClay announced the law change would take effect from the day of his press release but would not be enacted into law until some time this year.