The 3% tax on gross taxable digital service revenue would generate NZ$222 million over four years.
There are concerns that current global tax laws do not adequately capture how large companies such as Google and Facebook generate revenue.
The proposed tax would be payable by multinational businesses that make over €750 million a year from global digital services and over NZ$3.5 million a year from digital services provided to New Zealand users, finance minister Grant Robertson said Tuesday in Wellington. Governments around the world are concerned that the likes of Google and Facebook don’t pay enough tax or don’t pay it in the right places, and that current global tax rules don’t appropriately capture the way these companies make money.
“This is a problem faced by countries across the world. With more and more overseas businesses embracing digital business models, our ability to tax them is restricted and the burden falls to smaller groups of taxpayers.”
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