New Zealand Shielded Against False Allegations by Geoffrey Cone

Tax havens exist all over the world. Countries that are considered tax havens are usually placed on the OECD list. It seems that these countries care more about the privacy of rich people who are attempting to evade taxes than about the well-being of the governments of the world. It’s not a good thing to be added to this particular list. New Zealand has never been on this list, yet they were recently accused of being a tax haven. This is something that Geoffrey Cone took offense to, and he decided to speak on behalf of his country.

Geoffrey Cone is known in New Zealand and around the world as the foremost tax law expert for domestic and international tax law. His expertise has been fueled by his experience and his formal education. Cone graduated from New Zealand’s coveted University of Otago where he graduated with honors. He received his diploma in tax law and trust law. Cone has exceeded in both fields. Cone now runs his own firm and is one of the most sought after tax law experts in New Zealand, which makes his opinion on this matter quite valuable.

To put it plainly, Cone believes that these allegations are baseless and somewhat silly. Of course, the first thing that he pointed out was that New Zealand has not and is not on the OECD list, but he went on to explain other aspects of New Zealand’s laws that disqualify it as being a tax haven. He pointed out that New Zealand has over 20 different agreements with countries around the world that make it easy to exchange information regarding finances should the need ever arise. These agreements facilitate financial information exchange as opposed to other countries where it might take months upon months to have this type of information released.

New Zealand has also made headway with what is called double tax agreements. The country has not imposed 39 of these agreements. The agreements provide a reduced tax impediment to both cross-border trade and to those who are attempting to invest in another country. The agreement also includes several clauses that help prevent tax avoidance or evasion. They are some of the most effective agreements against tax evasion, which definitely does not sound like a tax haven. It is great to see a proud New Zealand citizen stand up for his country.

Follow Geoff Cone on LinkedIn