News

PIEs give IRD tummy ache

Wednesday 10th of December 2008

With banks now aggressively marketing PIEs as good savings options, with their 30% tax rate, the department is now saying this may be opening up too big a gap for people to minimise their tax.

The PIE changes, along with lowering the company tax rate to 30%, mean “increased incentives and opportunities for individuals to structure their affairs in ways which reduce their exposure to high...

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