The Revenue Minister says Donald Trump was a factor in scrapping the incoming Digital Services Tax Bill.
 
A legacy of the last Government, it would've imposed a three percent tax on revenue from Kiwis - earned by the likes of Facebook and Google.

The US President has called such legislation 'overseas extortion', and said he'd act against it.

Simon Watts says they considered recent developments, including in the US.

"But at the end of the day - I took a look at this tax, we've been looking at it a bit and it's got some real drawback - and we've made the decision to pull it from the agenda."

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The Revenue Minister says Donald Trump was a factor in scrapping the incoming Digital Services Tax Bill. &nbsp; A legacy of the last Government, it would've imposed a three percent tax on revenue from Kiwis - earned by the likes of Facebook and Google.
The US President has called such legislation 'overseas extortion', and said he'd act against it.
Simon Watts says they considered recent developments, including in the US.
"But at the end of the day - I took a look at this tax, we've been looking at it a bit and it's got some real drawback - and we've made the decision to pull it from the agenda."
LISTEN ABOVE

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Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Simon Watts: Revenue Minister admits Donald Trump was a factor in scrapping Digital Services Tax Bill

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e5ef74ff-8cd0-4190-8d6b-b2e400695336/transcript