Government responds to Europe blacklist threat

Government responds to Europe blacklist threat

Last night we revealed New Zealand could be investigated by the European Authorities for our rules around foreign trusts.

Europe is cracking down on tax havens and is threatening to use sanctions to bring countries around the world into line.

Revenue Minister Michael Woodhouse is adamant concerns are overstated.

"We've had no official correspondence from the EU about this matter," says Mr Woodhouse.

He believes it's a long bow to draw to say New Zealand would be at risk of being on a blacklist.

But high level comments left the Government spluttering so should Kiwis be worried and concerned about being blacklisted?

Watch the video for the full Story report