newzealand-a country with least corruption: country overview

Aotearoa

New Zealand

Developed by : Devendra Chhallani

NORTH ISLAND AND SOUTH ISLAND

Total area: 268,680 sq km

Land area: 267,707 sq km

Coast line: 15,134 km

It has no land borders.

Capital: Wellington (1390 sq km area, 393,400 population)

Population: 44,05,200

Largest city: Auckland (4,894 sq km area, 1,486,000 population)

Geography

Monetory

•Monetary unit: New Zealand dollar Currency values Coins have values of 10, 20 and 50 cents, $1 and $2. Notes have values of $5, $10, $20, $50 and $100.

•Natural resources: coal, gold, hydropower, iron ore, limestone, natural gas, sand and timber

•Climate is mostly cool temperate to warm temperate. Mean temperatures range from 8 °C in the South Island to 16 °C in the North Island.

Culture NameNew Zealander

Alternative NameKiwi

LanguageEnglishMāori, New Zealand Sign Language

Religion

Anglican; 22

Presbyterian; 16

Roman Catholic; 15

Non-religious ; 21

Others; 26

Ethnicity

European 73%Native Maori 12%Polynesian 4%Other 11%

Maori Culture (Taonga)

The Maori are the indigenous people of New Zealand and main attraction for tourists.

Maori cultural• Dancing , singing

Food

Lamb

Kumara(sweet potato)

Beet root (red beets)

Shell fish

Kiwi fruit

NZ is largest cow milk exporter. The dairy cattle are 6.2 million. 65 % milk production is from north island. North island : Northland, Auckland and Bay of Plenty regions South island : Canterbury, Otago and Southland NZ produces about 2% of total world milk production at around 16

billion tons per annum but 95% of it's dairy produce is exported rather than consumed by the domestic market

Dairy Production

*Independent : 26th October -1835

*1st NZ parliament : 1854

*50th NZ parliament : Dec. 2011 – Dec.2014

*Head of State : the Sovereign, Queen Elizabeth II of New Zealand. Sir Jeremiah Mateparae , The Governor-General is the Queen’s representative in New Zealand.

* Prime Minister : John Phillip Key

*Office of the Speaker : Lockwood smeeth

The position is 3rd most important in New Zealand, after the Governor-General and the Prime Minister.

POLITICS

*The Parliament was elected using the Mixed member proportional (MMP) voting system.

*120 seats in NZ parliament.

*Election process is done every three year.

*19 registered political partiesNational party (john Philip key)Labor party (Phil Goff)Green party (Russell Norman)Maori party (tariana turia)Kiwi partyNew Zealand Pacific Party.

*There are The Supreme Court, Court of Appeal , High Court , District Court , Family Court , Youth Court , Environment Court , Employment Court , Maori Land Court in new Zealand.

*New Zealand has sneaked ahead

of Denmark and Sweden as the

least corrupt country in the world.

LEGISLATION REGULATION

FAIR TRADING ACT 1986 CONSUMER GUARANTEES ACT 1993 SECURITIES MARKETS ACT 1988 RESOURCE MANAGEMENT ACT 1991 COMMERCE ACT 1986

*Open market economy

*The treasury

*Population : 44,41,978

*GDP (NZ$ million) : 1,38,351

*Per capita income (NZ$) : 31,339

*Inflation rate : 1 %

*Unemployment rate : 6.8 %

*Life Expectancy (Year) : Male 78.8

Female 82.7

*Literacy rate : 99%

*Dependent on International trade.

*Australia is a first biggest trade partner of New Zealand in closer economic relationship.

*China is the second biggest external trade partner and are in a new Zealand china free trade agreement..

*Its principal export industries are,

Agriculture

Horticulture

Fishing

Forestry

International trade

• Primary Industries : 7.6% of GDP and contributes over 50% of NewZealand’s total export earnings.

It involves Agriculture & Horticulture, Forestry, Fishing, Natural gases, Oil, Coal, Electricity etc.

• Manufacturing Industry :12.2 % of GDP.

It involves aviation, clean technology, defense, heavy and light engineering, marine,  plastics, composites and metals -as well as other industries.

• Service Industries :Service Industries contribute 71% of the GDP.

It involves Infrastructure, Transport, Shipping, Railway, Tourism, Communication, Civil aviation etc.

CommodityNZ$ millions

(year end 31-jul-2012)

Milk powder, butter and cheese 11,889

Meat and edible offal 5,140

Logs, wood and wood articles 3,069

Crude oil 1,980Mechanical machinery and

equipment 1,837

Fruit 1,613

Fish, crustaceans and molluscs 1,373

Wine 1,181Casein and Caseinates 879

Wool 769

Optical, medical, and measuring equipment

638

EXPORT OF TOP COMMODITIES

. • Fully public system to a mixed public-private system for delivering healthcare.

Structure of New Zealand Health system

• The Ministry of Health• Twenty District Health Boards (DHBs). • The boards for each DHB are elected in

elections held every three years.• The DHBs oversee the forty six Primary

Health Organizations established throughout the country.

NEW ZEALAND HEALTH SYSTEM

Least Corrupted Country

Ranked 2nd in list of best countries for

doing business

Grant Thornton index : NZ is the

11th best country in the world for supporting

and doing business.

New zealand : A Business Destination

Business EnvironmentGoods trade between New Zealand and India is valued at over NZ$1.302

billion

Imports from India were valued at NZ$371.4 million.

Member of several major international organisations including the

i) World Trade Organisation (WTO),

ii) Asia Pacific Economic Co-operation (APEC) and

iii) Economic Co-operation and Development (OECD).

Foreign Investment Flows

Foreign Investment Policy

No restrictions on the movement of funds into or out of New

Zealand, or on repatriation of profits.

The three main ways in which overseas investment can

be undertaken in New Zealand are:

i) Establishing or purchasing a local company

ii) Registering a branch of an overseas company; or

iii) Establishing a joint venture or partnership.

Overseas Investment Commission consent is required for

foreign investment in any of the following categories:

Total expenditure to be incurred in setting up the business

exceeds NZ $50 Million

Acquisition or control of 25% or more in a company

value of those shares exceeds NZ $50 million.

COMMERCIAL PROPERTIES

RESIDENTIAL PROPERTIES

FINANCIAL INSTITUTIONS

The Treaty NetworkNew Zealand has entered into Double Tax Agreements (DTAs) with 28

trading partners such as

Australia India USA

United Kingdom Finland Ireland

Canada France Italy

China Germany Japan

Denmark Malaysia Netherlands

Norway Korea Russia

Philippines South Africa Sweden

Singapore Switzerland Taiwan

Thailand Fiji

Tax Framework in New Zealand*NZ$0 to NZ$38,000 19.5%

*NZ$38,001 to NZ$60,000 33%

*NZ$60,001 or more 39%

New Zealand corporate tax rate is 28%

Tax is payable in three instalments if a company's residual income exceeds $2,500

per annum.

Trustee income is taxed at the flat rate of 33%.’

No CAPITAL GAINS TAX

GST Registration – Registration is compulsory for businesses whose annual turnover

exceeds NZD 60,000.

The standard rate of Goods and Services Tax (GST) in New Zealand is 15%.

*Kia ora

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