New Zealand is a tax haven - tax expert
The Government has announced that tax expert John Shewan will conduct an independent investigation into the country’s foreign trust disclosure rules.
To talk about NZ’s tax rules and whether they are up to scratch, Paul Henry was joined by Massey University’s Deborah Russell.
"It walks like a duck, it talks like a duck -- it is a tax haven, alright? There's no doubt about it.
"The way our law is functioning is letting people overseas shelter their assets and income from taxation in the countries they live in," says Dr Russell.
The Panama Papers reportedly mentioned New Zealand 60,000 times and revealed that we are one of the world’s favourite places for the elite to store their wealth.