Parliament is considering new tax rules to stop the likes of Apple, Google and Facebook shifting profits made here to low tax countries, but other companies argue the Government is taking a sledgehammer approach.
This morning's email focused on the latest in international relations and finance.
In today's email, we detail the Government's failure to collect any tax from global giant Apple, we look at how the water charging story isn't going to dry up, and examine the good news and the bad news out of Kiwibank's woeful week.
Revenue Minister Judith Collins is expected to unveil at least three measures to crack down on Base Erosion and Profit Shifting (BEPS) by international companies later this morning.
John Key and Todd McClay have been busy at the APEC meeting in Lima over the weekend, talking with leaders about trade deals in a post-Trump and post-TPP world.
Mossack Fonseca's use of New Zealand entities in the Panama Papers came back to haunt the Government overnight.
The fallout from Brexit on global trade politics and financial markets dominated the discussion in Wellington yesterday, although the more substantive news came from John Shewan's 124 page Inquiry into Foreign Trusts.
Responding to more reporting from the Panama Papers showing corrupt Kazakhstan and Brazilian politicians have used New Zealand trusts to hide assets, John Key reiterated that the Government was accelerating its second round of Anti Money Laundering (AML) controls to include lawyers, solicitors and real estate agents.
Responding to the fallout from the Panama Papers and concerns it may hit New Zealand's reputation, the Government has decided to accelerate the previously stalled introduction of a second round of Anti-Money Laundering (AML) reforms, which would pull trust lawyers, solicitors and real estate agents into a tough and expensive regime designed to identify the source and legitimacy of funds.
Good morning after an eventful weekend and Monday morning dominated again by the Panama Papers.