Possible EU sanctions against New Zealand could make travel harder and have a massive impact on the economy. New Zealand is under investigation by the EU as it prepares a blacklist of global tax havens. The grouping of 28 European nations has compiled a list of countries with lax tax laws, Newshub revealed on Monday night. Following the release of the so-called Panama Papers, it has confirmed that New Zealand is under investigation. The EU loses around NZ$1 trillion to tax havens each year and intends to put a stop to the practice by threatening a raft of sanctions against countries that don’t comply with its standards.
