I've struggled to find any info outside of fishing vessels, but some 10 years or so back NZ required foreign flagged fishing vessels to reflag to NZ to ensure we had jurisdiction of health and safety and labour issues, after reports of slave like conditions. Here's an article about companies that stopped operating here rather than follow the new law: https://www.newstalkzb.co.nz/news/national/foreign-charter-vessels-opt-out-of-nz-waters/

I reckon it's gotta be something dodgy, if the company in the original article is using foreign staff, they may not have to comply with our laws around pay, working conditions, or health and safety. It seems there may be some grey area here as in NZ waters we should have jurisdiction but if it's a foreign flagged vessel with foreign staff, it seems a little less clear.

I'm thinking this angle rather than taxes as the company is registered in NZ.