« In the wake of Covid-19, with struggling people and governments increasing their debt to deal with it, this debate couldn`t be more timely, » said Glenn Barclay, president of TJA. « Governments around the world care about their people; Meanwhile, some companies have amassed huge amounts of wealth by taking advantage of the pandemic. It is appropriate that we discuss whether some of these excess profits can be used for the common good, including hospitals, schools, roads, national parks, and more. Tax Judge Aotearoa (TJA) has expressed support for the Greens` initiative to publish a discussion paper on the idea of an excess profit tax and mechanisms to implement it. This is not a new idea, » Barclay said. « The excess profit tax was used to levy taxes on companies that benefited excessively from it at different times, often in times of misfortune for others. New Zealand has levied such taxes, especially in wartime, and we should do it again. « The DDA raises important questions, such as whether the mechanism of a surplus tax should be continuous or one-off and prospective or retrospective. Should we consider adapting existing mechanisms such as corporate taxation, or should we develop something new? Tax Judge Aotearoa welcomes the opportunity to discuss this important issue. » | video Agriculture | Trust | Economy | | of energy Employment | Finance | | Media Owned | RBNZ | | of science State enterprises | | Tax Technology | | telecommunications Tourism | Transport | Search Tax Justice Aotearoa NZ aspires to a fairer society through tax reform. We represent the growing number of people who want more transparency, equality and fairness in national and global tax systems.
Founded in August 2018 and connected to the global tax justice network, we provide analysis, insights and insights to create an informed dialogue on how taxes build societies where everyone thrives.