Here's John Key being grilled by Guyon Espiner on RadioNZ this morning, about our tax haven. He's certainly on the back foot, wish we had video of this.
http://www.radionz.co.nz/national/pr...-panama-papers
All of a sudden, he doesn't seem to know too much about the trusts and how they work. He's certainly not going to show us his tax records though. The last question was "have you used any trusts in countries that might be considered tax havens?" to which he replied timidly through the phone.."I don't believe so". Guyon quickly pointed out that the answer wasn't a 'no'.
I'm most disappointed Guyon didn't ask the other obvious question. Why did he instigate the change in the tax rate on these foreign-owned trusts from 28% to.. 0%? In other words, he applied no tax. John Key set up our status as a Tax Haven.
John Key's stuck in this right up to his neck, maybe we can get him booted out over it.