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New Zealand went through a major program of tax reform in the 1980s. The top marginal rate of income tax was reduced from 66% to 33% (changed to 39% in April 2000, 38% in April 2009, 33% on 1 October 2010 and back to 39% in April 2021) and corporate income tax rate from 48% to 28% (changed to 30% in 2008 and to 28% on 1 October 2010).
In late October 2022, the New Zealand Government ended its COVID-19 "handouts" programme for businesses. Stuff reported a 48% increase in formal insolvency proceedings in the third quarter of 2022, taking the total of business insolvencies that year to 384. In addition, receivership rates increased by 243% to 24 while voluntary administrations ...
The economy of New Zealand is a highly developed free-market economy. [ 23] It is the 52nd -largest national economy in the world when measured by nominal gross domestic product (GDP) and the 63rd -largest in the world when measured by purchasing power parity (PPP).
The country exported NZ$ 46.4 billion worth of agricultural products (raw and manufactured) in the 12 months to June 2019, 79.6% of the country's total exported goods. [ 1] The agriculture, forestry and fisheries sector directly contributed $12.653 billion (or 5.1%) of the national GDP in the 12 months to September 2020, [ 2] and employed ...
In 2021, New Zealand's electricity consumption was 40 terawatt-hours (TW⋅h), marking a slight 0.2% rise since 2010. The industry sector led with 44% of total usage, followed by residential buildings at 33%, and service sector buildings at 23%. Transport's share was minimal, at only 0.2% of total consumption.
This is the list of countries by government budget. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1. The following tables show the governmental budget balance, in millions of US dollars or millions of local currency units (LCU, the most commonly used in the country) and as ...
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