BusinessNZ will work with New Zealand businesses to respond to the OECD’s action plan for counteracting tax avoidance by multinational companies.

BusinessNZ is a member of the Business and Advisory Council (BIAC), the independent international business association dedicated to advising policy makers at OECD.

BIAC Chair Phil O’Reilly says instances of profit shifting by multinational enterprises, although legal, can harm the revenue base in affected countries, and there is a need for an international consensus on new tax rules to deal with the practice.

Click here to view the OECD Action Plan on Base Erosion and Profit Shifting and BIAC’s summary and media statement.

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