Williams Andrew: Taxation (International Investment and Remedial Matters) Bill — Third Reading 
Text is incorporated into the Bound Volume 
Williams Andrew: Taxation (International Investment and Remedial Matters) Bill — Third Reading 
[Sitting date: 01 May 2012. Volume:679;Page:1782. Text is incorporated into the Bound Volume.] 
ANDREW WILLIAMS (NZ First) 
: 
 When the House rose 3 or 4 weeks ago we were discussing the Taxation (International Investment and Remedial Matters) Bill for its third reading. At that time I was able to start only a couple of minutes before the House rose so I would like to continue where the House left off.  
This bill serves to reduce tax barriers for New Zealand companies operating on the global stage. It allows for income that has a source in New Zealand and for which relief from New Zealand tax under double tax agreement is unavailable. This bill also serves to help improve New Zealand’s economic performance. It means that New Zealand enterprise is able to operate on a level playing field in markets where we trade or have investments. This can only be good for New Zealand commerce for New Zealand international trade and to ensure that the New Zealand economy benefits from working on a level playing field with our trading partners and in markets where we have significant economic interests.  
New Zealand First supports fairer taxes for all. New Zealand First has been a party as you all know that has stood up over many many years since the foundation of New Zealand First to stand for fairer taxes including taxes on business. We have been the party most known for ensuring that we expose any tax loopholes and rorts that were going on in the past such as—we all know—the wine-box saga where there was a deliberate attempt to avoid paying what were taxes due to the New Zealand Crown. Hundreds of millions of dollars potentially could have been lost over the years if such tax situations were not exposed and if the New Zealand Government was not on top of the matter in terms of ensuring such tax rorts were not taking place. 
 This Taxation (International Investment and Remedial Matters) Bill in a sense serves to continue that direction in terms of ensuring that there are common taxation arrangements between different countries and ensuring that New Zealand interests are seen on that same level footing wherever we have international financial interests. The New Zealand Government has over the years worked towards ensuring that New Zealand companies can be more competitive. It has worked to ensure that we are able to play a significant role on the global stage and this bill serves to do that.  
New Zealand First certainly supports this bill through the third reading. We believe it has benefits for the New Zealand economy. We believe that as a result it will make this economy more competitive. It will also attract potentially more investment to New Zealand. It has the potential to also attract interest where otherwise there may not have been interest in New Zealand and to ensure that there are not double taxation standards in New Zealand compared with many of the countries where there are potential investors possibly looking to invest in our economy.  
New Zealand First follows this through to the third reading. It has already been covered off to a great extent in terms of what this bill offers. Therefore I rise in support. I commend the bill to the House and we will be supporting this bill.