Speculation has been growing that the New Zealand government will slash the corporate income tax rate in the upcoming May budget. Given that New Zealand’s corporate tax rate is higher than in most peer economies, such a move could help boost business investment and support the economic recovery. Elsewhere, Australia could stand to benefit if President Trump follows through on his pledge to institute reciprocal tariffs on the US’s trading partners. After all, Australia imposes far lower tariffs and value-added taxes on American goods than most other major economies.
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