New Zealand, a country located in the South Pacific, encompasses two major islands stretching north and south and separated by Cook Strait. Its capital city is Wellington. The two official spoken languages are English and Māori, and the currency is the New Zealand dollar (NZD).
New Zealand's real gross domestic product (GDP) grew by approximately 2.9% in the year ended December 2017. Unemployment of the labour force currently sits at 4.4%, with 67.7% of the working-age population employed. Consumer price index (CPI) inflation has been low over the past couple of years and is expected to remain around 1% to 2% for the next couple of years. This is largely due to a stronger New Zealand dollar, weak global inflation, and the reduction of commodity prices. Annual inflation is at the bottom of the Reserve Bank of New Zealand's target range of 1% to 3%.
A flat-rate 15% tax applies to all goods and services sold in New Zealand (GST).
Depending on the industry, average salaries in New Zealand generally range from NZD 45,000 to NZD 55,000, and the minimum hourly wage is NZD 16.50.
PwC New Zealand employs over 1,300 people. The firm, which has offices in Auckland, Waikato, Hawkes Bay, Taranaki, Wellington, Canterbury, and Otago, provides a full range of accounting, tax, and business services to leading global, national, and local companies and to public institutions. Our tax services are comprised of the following core areas:
- Corporate tax.
- Certainty and controversy.
- Customs and excise.
- High net worth individuals.
- Indirect taxes.
- International assignment services.
- International tax.
- Tax transaction services.
- Transfer pricing.
- Tax pooling services.
Over and above our traditional service offerings, PwC New Zealand also has a strong industry focus, with multi-disciplinary teams dedicated to key industry groups in both global and national markets. For our clients, this means the best local knowledge combined with the broadest global experience.