Thanks Donald
The Herald reports:
The Government has binned a tax worth an estimated $100 million each year after threats of retaliation from US President Donald Trump and claims about 'overseas extortion' through these types of levies.
Revenue Minister Simon Watts announced today the Digital Services Tax Bill would be pulled from the coalition's pipeline of laws.
Inherited from the previous Labour Government, the law as originally conceived would have applied a 3% tax on digital services revenue earned from New Zealand customers by the likes of global tech giants (many of which are based in the US).
A tax based on revenue, not profit, is an abomination. I'm glad it was killed off.
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