Review of tax laws for trading banks

Inland Revenue and the Treasury are reviewing the tax laws applying to trading banks to ensure they are robust, Revenue Minister Michael Cullen said today. Once officials report, the government will decide whether legislative change is necessary. For more information see the government's media statement.

Hon Dr Michael Cullen
Minister of Revenue

MEDIA STATEMENT

IRD reviewing tax laws for trading banks

Revenue Minister Michael Cullen confirmed today that Inland Revenue and Treasury are reviewing the tax laws applying to trading banks to ensure they are robust.

"The work has been underway for around a year now and has included consultation with the banking industry and tax practitioners.

"I am expecting a report in the next few months and will consider at that time whether legislative change is necessary," Dr Cullen said.

Contact: Patricia Herbert [press secretary] 04-471-9412 or 021-270-9013. E-mail [email protected]