Is Labour going to tax on turnover?

The Herald reports:

's division made sales of $571 million last year but paid only 0.4 per cent of that in tax.

Labour's Revenue spokesman David said that's akin to paying nothing at all, and letting a corporation get off “scott free” is something New Zealand taxpayers shouldn't have to stomach.

That's because you pay tax on profits not turnover.

Is Labour saying that they think companies should be taxed on turnovers, not profits? I hope they spell out well in advance of the election!

Should be about as popular as saying it is a no brainer to tax purchases from overseas .

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