US push for global tax rules could catch New Zealand's film industry 6 Apr, 2021 05:46 AM 4 minutes to read New Zealand's tax regime attracts big budget productions. Photo / Supplied US calls for a new global tax regime - potentially the biggest overhaul in 100 years - should be viewed as good news for New Zealand, says Professor Craig Elliffe. However the call by US Treasurer Janet Yellen for a minimum global corporate tax rate could create tension for our subsidised film industry. It could also create issues with our current lack of capital gains tax, said Elliffe, a tax law specialist with the University of Auckland Faculty of Law.