Inside this issue, Richard Ashby at AGN Member Firm Gilligan Sheppard in New Zealand provides insight into the new Government and what impact this will have on taxes. Muhammad Kamil Gohar at AGN Member Firm RASG in India provides insight into taxes related to the digital economy.
A summary of each article follows. Download the publication for a comprehensive read.
New Zealand: Election 2023 – A Sea of Blue
With the present cost of living crisis in New Zealand, including ever-increasing residential mortgage lending rates, which is having a profound negative impact on the average household, a change in Government was somewhat expected.
As a result of the change of Government, what are the likely tax changes that will now come about? In this publication, Richard highlights the three main proposed changes, including personal tax rate thresholds, residential land in New Zealand and tax deductibility for interest paid on residential land debt.
Pakistan: Taxing the Digital Economy
Over the past three decades, humanity has witnessed a different kind of revolution, which has given a completely new meaning to the word “Globalization” and radically changed the competitive landscape of businesses around the globe.
This revolution is the era of Internet/ Digitization or, as one might term it, the era of “Digital Economy”. What is the purpose of the Organization for Economic Cooperation and Development (OECD)? What initiatives can Pakistan explore to develop a more up-to-date and robust taxation system in this digital era?