Revealed: Millions in taxpayer dollars being sent offshore to Big Tech | Stuff.…

Revealed: Millions in taxpayer dollars being sent offshore to Big Tech | Stuff.co.nz <!--mynz:youtube-chapters--> {"v":1,"chapters":[{"timeSeconds":0,"label":"Taxpayer Dollars Sent Offshore","summary":"Millions of taxpayer dollars are being sent offshore to Big Tech companies like Google, Meta, and TikTok. This is according to a month-long investigation by Stuff.co.nz."},{"timeSeconds":19,"label":"Big Tech Revenue Avoids Tax","summary":"Most of the revenue generated by Big Tech companies is sent offshore before taxes are paid in New Zealand. This practice allows them to significantly reduce their tax obligations."},{"timeSeconds":31,"label":"Spending Figures Revealed","summary":"Government departments are spending millions on advertising with Big Tech companies. The total amount spent is estimated to be around $19.4 million."},{"timeSeconds":53,"label":"Google and Meta Lead Spending","summary":"Google and its subsidiary YouTube received the largest share of this spending, totaling $12.3 million. Meta (Facebook and Instagram) followed with $7.1 million."},{"timeSeconds":109,"label":"ACC and NZTA Top Spenders","summary":"ACC is the biggest government spender on Big Tech advertising, with $3.3 million. NZTA spent $2.6 million, and ECCA spent $1.7 million."},{"timeSeconds":135,"label":"TikTok and LinkedIn Spending","summary":"The transport authority spent $2.6 million on Big Tech, with $1 million going to Google and $1 million to Meta. TikTok received $0.5 million."},{"timeSeconds":155,"label":"MSD's TikTok Advertising","summary":"The Ministry of Social Development spent $865,000 on advertising, with a quarter of a million dollars going to TikTok."},{"timeSeconds":205,"label":"Tax Avoidance Strategy","summary":"Big Tech companies, owned overseas but operating in New Zealand, divert revenue offshore through licensing or service fees. This reduces their taxable profit in New Zealand."}]} <!--/mynz:youtube-chapters-->