[kictanet] New Zealand joins global efforts to tax online MNCs (the FANGs)

[Ali Hussein]

Patrick and all

This is long overdue. The principal of Transfer Pricing is under attack. As
it should be since this has been used for far too long to deny tax revenues
to countries where the service/product is being used. It's going to be a
long battle however as these guys will fight hard to retain the status quo.
Something to watch closely.

Regards

*Ali Hussein*

*Principal*

*AHK & Associates*



Tel: +254 713 601113

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On Mon, Feb 18, 2019 at 1:42 PM Patrick A. M. Maina via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> "New Zealand that it plans to update its laws so it can tax revenue earned
> by multinational digital firms such as Google, Facebook and Amazon,
> extending a global effort to bring global tech giants into the tax net.
>
> Prime Minister Jacinda Ardern said the cabinet had agreed to issue a
> discussion document about how to update the country's tax framework to
> ensure multinational companies pay their fair share.
>
> "Our current tax system is not fair in the way it treats individual tax
> payers, and how it treats multinationals," Ardern told reporters at her
> weekly post-cabinet news conference."
>
> New Zealand to target online firms like Google, Facebook and Amazon with
> digital tax
> <https://www.cnbc.com/2019/02/18/new-zealand-to-target-google-facebook-and-amazon-with-digital-tax-pm.html>
>
> New Zealand to target online firms like Google, Facebook and Amazon with...
>
> CNBC
>
> New Zealand said on Monday that it plans to update its laws so it can tax
> revenue earned by multinational digita...
>
> <https://www.cnbc.com/2019/02/18/new-zealand-to-target-google-facebook-and-amazon-with-digital-tax-pm.html>
>
>
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