The Government's got multinational tax avoidance in its sights as Inland Revenue looks to change the rules on non-resident withholding tax.
Under the proposed measures banks could be required to disclose more information about international transactions.
Minister of Revenue Todd McClay says the rules on non-resident withholding tax haven't been changed significantly since they were introduced in 1964.
He says without changes non-residents are able to shift profits out of the country without paying tax.
Mr McClay says IRD audits have uncovered instances where multi-nationals have used sophisticated techniques to defeat tax rules.
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