Officials claim the Government's idea for a international money management hub could generate $300 million per year in extra tax revenue.
That's equivalent to the amount the Government hopes to raise from scrapping depreciation on investment properties.
Inland Revenue and Treasury say the extra revenue would come from creating incentives for foreign money managers to set up in New Zealand.
Dublin's international financial services centre is cited by Prime Minister John Key as a potential model for this country.
At its height it employed 25,000 people and contributed 1.2 billion euros in tax to the Irish government.
However, scrapping tax paid by foreign investors in locally-registered funds with overseas investments could cost $10 million in lost tax.
It is believed the loss would be outweighed by $300 million in tax from money managers flocking to New Zealand to take advantage of the new rules.
But the Institute of Chartered Accountants says this could create a loophole for local investors to exploit.
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