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NZ may change anti-money laundering rules as PM denies tax haven claims

( May 10, 2016, 04:12 GMT | Insight) -- New Zealand Prime Minister John Key says changes to disclosure rules could be proposed following an inquiry into the country’s tax regime prompted by the Panama Papers leak, but he has denied assertions that New Zealand was a secret tax haven, the New Zealand Herald reports.New Zealand Prime Minister John Key says changes to disclosure rules could be proposed following an inquiry into the country’s tax regime prompted by the Panama Papers leak, but he has denied assertions that New Zealand was a secret tax haven, the New Zealand Herald reports. He said New Zealand had tax agreements with 109 countries and complied with disclosure requests, but indicated that a second round of anti-money laundering measures could be proposed to tighten control over any rogue trust companies. Foreign trusts are already required to be registered under existing rules, and are expected to maintain detailed records that can be examined by Inland Revenue upon request. Former revenue minister Peter Dunne warned that merely being perceived as a tax haven could materially damage the country’s reputation.  ...

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