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Tax dominates New Zealand budget

21 May 2010

Tax has dominated New Zealand's annual budget, five months after the government was told that the country's tax base was under threat.

Tax has dominated New Zealand's annual budget, five months after the government was told that the country's tax base was under threat.

The changes come after a body known as the Tax Working Group that was set up to review tax rules concluded that the system had become incoherent.

The government accepted this approach and so Bill English, the finance minister, used his speech to outline significant tax alterations.

The corporate tax rate will be reduced from 30% to 28%...



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