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Inland Revenue

IRD Records Prove Headache For Kiwisaver Providers

IRD Records Prove Headache For Kiwisaver Providers
Wellington, Feb 18 NZPA - Problems with Inland Revenue records mean hundreds of thousands of New Zealanders are in the dark over their KiwiSaver funds, say providers.

Banks Settle With IRD -- $2.2b Present For Taxpayer

Banks Settle With IRD -- $2.2b Present For Taxpayer
Wellington, Dec 23 NZPA - Four major banks tonight settled long-running disputes with the Inland Revenue Department (IRD), and will pay 80 percent of the amount in dispute, more than $2.2 billion.

Banks Settle With IRD

Banks Settle With IRD
Wellington, Dec 23 NZPA - Four major banks have settled their long-running disputes with the Inland Revenue Department. The Commissioner of Inland Revenue, Robert Russell, and the Solicitor-General, David Collins QC, said they are pleased long-running tax disputes have been settled.

Westpac To Appeal NZ Structured Finance Case

Westpac To Appeal NZ Structured Finance Case
Wellington, Nov 3 NZPA - Westpac has appealed the structured finance transaction High Court case that went against it last month. The bank, which reports its annual profit tomorrow, has said the cost of the judgment was $918 million.

Tax Cases Will Not Affect Australian Bank Ratings - Moody's

Tax Cases Will Not Affect Australian Bank Ratings - Moody's
Wellington, Oct 12 NZPA - The ratings of Australian banks will not be affected by the sizeable costs they face from unfavourable tax judgments in New Zealand, Moody's Investor Services said.

BNZ To Appeal Structured Finance Transaction Tax Case

BNZ To Appeal Structured Finance Transaction Tax Case
Wellington, Aug 11 NZPA - Bank of New Zealand has decided to appeal the tax case it lost in the High Court last month and is making a $661 million provision for the case in it accounts.

BNZ Loses Court Case With $654m In Tax And Interest In Dispute

BNZ Loses Court Case With $654m In Tax And Interest In Dispute
Wellington, July 16 NZPA - National Australia Bank (NAB) switched a structured finance transaction from the UK to New Zealand when NAB's UK tax position became uncertain.

BNZ Loses Structured Finance Court Case

BNZ Loses Structured Finance Court Case
Wellington, July 16 NZPA - Bank of New Zealand has lost a court case in which $416 million of tax resulting from international structured finance transactions was disputed, but the bank said it is likely to appeal.

Supreme Court Finds Trinity Scheme Was Tax Avoidance

Supreme Court Finds Trinity Scheme Was Tax Avoidance
Wellington, Dec 19 NZPA - In a majority decision the Supreme Court has dismissed appeals brought by investors in the Trinity tax avoidance case more than 11 years after the forestry scheme was first designed.

Labour Party: Plan For Responding To The Economic Downturn

The New Zealand economy is clearly facing short term challenges from the global financial turbulence. Labour will ensure that the current international crisis does not lead to a prolonged recession in New Zealand.

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