Merchandise purchases deductible. Cost of goods sold nondeductible. New Zealand Corporations pay tax on income from year-end financial statements, adjusted for depreciation differences. Contingency expense and dividends paid not deductible. Tax planning is difficult, since tax law is unclear.
Local taxes change rapidly.
South Africa Corporations pay tax on income from year-end financial statements. Capital allowance on various assets. None for buildings used in retail stores or offices. Fewer taxes but higher taxes. Foreign companies motivated by lower cost of labor.