Geoffrey Marshall responded to a recent press release that stated New Zealand as a tax haven country. According to him, the media made New Zealand look like a tax haven by giving unproven facts making the story seem like a thriller. In the real sense, New Zealand has never been a tax haven country and has never featured in any of the blacklists of countries that are tax haven. New Zealand conforms to the 2002 OCDE Model Agreement to share tax information with international countries as well as ensure enforcement of domestic tax laws.
New Zealand does not in any way demonstrate characteristics of a tax haven country. Cone affirms that New Zealand observes transparency by giving any relevant tax information if a foreign trust requests. To enhance tax adherence, New Zealand follows the new rules introduced by Michael Cullen requiring the country to submit a Foreign Trust form and other financial and tax information for transparency and accountability.
In 2011, new powers were enhanced by the world standard money laundering legislation in a bid to ensure that all foreign and domestic trusts money activities between the respective parties are recorded for tax purposes. Cone says that New Zealand is a country that believes in following set tax regulations and requires the companies and different societies to adhere to the set tax rules when dealing with domestic and foreign clients.
New Zealand is a strict observer of tax purposes and has the jurisdictions same as Britain, Singapore and United States of having a transparency tax system and taxation principles concerning foreign trusts. Cone urges residents and foreign tax observers to direct the tax concerns to the relevant companies to protect the New Zealand’s hard earned reputation.
Geoffrey Cone Marshall is a holder of Llb honors and a post graduate diploma in law and trust from the University of Otego. After school, Cone kicked off his career in Auckland then to Christchurch where he partnered with other lawyers to establish a law firm. In the firm, Cone practiced commercial law and advised clients on issues concerning trust and tax. While still working in the firm, cone appeared in courts at all levels as well as in Privy Council.
After two successive years working in British West Indies, cone left his job as a litigator and went back to practice in Auckland. In 1999, Geoffrey Cone Marshall established his law firm that assists in trust and tax issues advice. After many years of operation, the firm has created a positive reputation in the tax and law field by offering quality management services to the clients.