Too broke to pay tax? (But Methanex pays $70m dividend to Canadian owner)

Great coverage of our New Zealand Methanex report included in this piece from Newsroom, New Zealand, investigating a $70m dividend payment to the New Zealand subsidiary’s foreign owners whilst claiming to be unprofitable and paying no tax in New Zealand for the last
two years.

CICTAR’s Ed Miller is quoted:

“Between inter-company loan repayments, interest payments on those loans, and the payment of dividends, the
company appears to be moving significant volumes of capital out of the country…This appears consistent
with our existing contention that Methanex will depart the New Zealand market at or before the expiry of its gas
commitments in 2029.”