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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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by Mike Moreu
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