Ryman Healthcare this morning released its annual report to the NZX, showing it made $362.9 million annual pre-tax profit - but have not paid not a cent in tax. The accounts filed showed that if Ryman paid tax at the applicable 28 per cent, it would have incurred a $101,637,000 tax bill (last year $86,613,000). It's all perfectly legal and in fact, New Zealand tax law allows this at the moment. If the Government decided to tax capital gains... but there's no capital gains tax in New Zealand," Simpson said. While Ryman doesn't pay any tax, the shareholders do pay tax on the dividends so there's still a tax take.

Source: New Zealand Herald June 22, 2017 23:41 UTC