Story: Dishonesty crime

IRD and the banks

IRD and the banks

In the early 2000s the four largest banks in New Zealand – the BNZ, ASB, ANZ-National and Westpac – faced a massive tax bill of $2 billion over 'structured finance transactions' which the Inland Revenue Department deemed to be tax evasion. The companies agreed to a settlement totaling $1.7 billion in 2009. This cartoon plays on the fact that at the time BNZ was featuring little pigs in advertisements.

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Private collection
Cartoon by Mike Moreu

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How to cite this page:

Carl Walrond, 'Dishonesty crime - Copyright crime and tax evasion', Te Ara - the Encyclopedia of New Zealand, (accessed 25 April 2024)

Story by Carl Walrond, published 5 May 2011, reviewed & revised 2 Nov 2018 with assistance from Greg Newbold