Consumers are avoiding paying $235m a year in GST by buying goods from overseas websites and that figure will grow to $935m in 10 years if the “loophole” isn’t closed, Retail NZ says.
Retail NZ policy manager Greg Harford said its estimate didn’t take into account the possibility that shipments by Amazon to New Zealand consumers could increase once Amazon sets up distribution centres in Australia within the coming year.
Amazon shares climbed above US$1000 (NZ$1400) for the first time this week, having risen by more than a third over the past year.
Harford said there was “chatter” among Kiwi retailers about what its arrival into Australia would mean.
from Ellie NZ Rss http://www.stuff.co.nz/business/industries/93414932/GST-hole-could-approach-1b-even-without-Amazon-on-doorstep
from
https://ellieplume83.wordpress.com/2017/06/07/gst-hole-could-approach-1b-even-without-amazon-on-doorstep/
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