New export incentives in tax bill
PA Weliington A new system of export incentives is contained in the Income Tax Amendment Bill which has been introduced in Parliament., The Deputy Minister of Finance (Mr Templeton), who is in charge of the bill, said the new schemes embodied two main principles:
The incentives were based on net foreign exchange earning. The incentives were applied to a firm’s total exports rather than only to the increase in its exports.
He said the Government’s intention was to maintain total assistance for exporters as a whole at no less than the present level and to introduce a consolidated system that would be readily understood and easily applied. “The over-all package has been developed after close consultation with representatives of export groups, particularly the Manufacturers’ Federation, primarily because we wanted to test the proposals on exporters in order to provide the workable and effective incentive when the schemes were introduced,” Mr Templeton said.
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Press, 18 August 1979, Page 4
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158New export incentives in tax bill Press, 18 August 1979, Page 4
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