New Zealand Attempts to Implement Turnover Tax for Large Multinationals

Last week, the New Zealand government announced that the administration are going forward with proposals that will apply a 2-3% turnover tax to New Zealand Multinationals providing digitalised apps and services. The companies affected are the likes of tech companies Google, Facebook and eBay; including apps such as Instagram, Uber and Airbnb who are all conducting major business in the nation.