Its budget day, and the government has been whining about how it has no money and so can't afford anything. Meanwhile, they've just given away half a billion dollars a year to foreign fascist techbros:
New Zealand financial statements filed by tech firms including Google, Facebook and Amazon show how they're moving their local profits to tax havens like Ireland, allowing them to declare little or no taxable revenue here.The Herald has a closer look at Google's tax-cheating. They shipped over a billion dollars offshore by paying dodgy "service fees" to themselves, ensuring that there was nothing here to tax. If those profits had been taxed here instead of laundered through overseas tax havens, it would have been an extra quarter of a billion dollars we could have used to pay for the things we need. Instead, it will pay for political corruption and promoting fascism in the US.Treasury estimates a proposed Digital Services Tax would have pulled in $479 million from these firms over the next four years – but this week, under the shadow of Donald Trump's tariff threats, the Government announced it was dropping the bill from its legislative agenda.
A tax on tech revenue would have been one way of disincentivising techbro money-laundering. But National has cancelled it in order to grovel to Trump. But in the process, they've shown us a truth they'd rather deny: when they claim "there is no money", it is a choice, and a lie.
