Fonterra, F&P could be hit by global tax crackdown

A global crackdown on tax avoidance by multinational firms may not be all good news for the New Zealand government, a leading tax practitioner says.

The OECD last week finally released its “action plan” for targeting high profile firms like Starbucks, Google, Facebook and Apple.

The plan was put together at the request of the G20 governments and is aimed at hitting companies which use the many and varied different tax rules around the world to minimise their tax.

 

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