An amendment to the Income Tax Act 2007 is urgently needed to help businesses rebuild and get back on their feet after earthquakes, says New Zealand First Building and Housing Spokesperson, Ron Mark.
The Paying Taxes 2017 report by The World Bank Group and PwC puts New Zealand well ahead of the global average and our neighbours in respect of businesses dealing with their tax obligations.
Revenue Minister Michael Woodhouse and Small Business Minister Craig Foss today welcomed a survey showing small businesses are continuing to spend less time on tax compliance.
Inland Revenue is looking to bring tax accounting practice regarding farmhouse expenses into line with the law. This is all part of a review of out-dated practices and policies.
The Government is acting on all recommendations from the Shewan Inquiry into foreign trust disclosure rules, Finance Minister Bill English and Revenue Minister Michael Woodhouse announced today.
Efforts to reduce the complexity of the tax treatment of employee share schemes (ESS) are commendable but current proposals by Inland Revenue (IR) go too far, says Chapman Tripp.
Businesses are being encouraged to support proposed changes to the provisional taxation system before the initial consultation period closes on Monday.
Revenue Minister Michael Woodhouse says the recent signing of the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports will help ensure large multinationals pay their fair share of tax by providing for increased sharing of information between revenue authoritie
The Taxpayers’ Union is fuming that Finance Minister Bill English has ruled out tax cuts as part of this month’s Budget, and has suggested to a business audience in Wellington that the oft-flaunted reductions in tax may be some years off.
Taking more tax cuts off the table was the right move for Bill English to make in his pre-Budget speech today, the Green Party said.
The Government must urgently broaden its limited review of foreign trusts in light of new revelations of the extent of New Zealand’s involvement in the global tax avoidance industry, the Green Party said today.
The Prime Minster today should have come out and promised he’d throw everything he’s got at cleaning up foreign trusts, and stamping out the tax avoidance industry, the Green Party said today.
A wide-ranging tax Bill introduced today proposes technical changes to improve, strengthen and update our tax rules so they continue to work well for taxpayers, says Revenue Minister Michael Woodhouse.
The chief executive of New Zealand’s largest tax pooling intermediary, Tax Management NZ (TMNZ), has applauded the New Zealand Government for its decision to be more lenient on how it will apply interest on provisional tax in the future.
A review into offshore trusts must involve more than one tax advisor behind closed doors if it is to have any credibility or salvage New Zealand’s international reputation, Opposition Leader Andrew Little says.
A Massey University taxation specialist says the loopholes in New Zealand’s trust law, highlighted by the so-called ‘Panama Papers’, makes this country "complicit in schemes to avoid tax".
The prime minister is refusing to do anything about multinationals ripping off New Zealand with their avoidance of tax, says New Zealand First.
The OECD’s automatic exchange of information (AEOI) initiative will set a global standard for sharing information with the objective of minimising tax evasion, says Revenue Minister Michael Woodhouse.
A wide ranging tax bill passed its final stage in Parliament today, bringing together a suite of proposals to help support the Government’s work in creating a more productive economy, Revenue Minister Michael Woodhouse says.
Chartered accountants working in public practice and corporates are generally happy with the service provided by Inland Revenue (IR).
Retail NZ says that the introduction today of a government bill that applies GST to offshore suppliers of services and intangibles creates new loopholes in collecting GST and is a wasted opportunity to level the playing field for all Kiwi retailers.
Inland Revenue has issued a Revenue Alert, RA 15/01, advising that some employee share purchase schemes may constitute tax avoidance. Revenue Alerts are issued by the Commissioner of Inland Revenue to provide information and guidance about significant tax planning issues.
After months of discussion documents and talkfests National has kicked for touch on provisional tax, despite it being one of the biggest issues facing small business, says Labour’s Revenue spokesperson Clayton Cosgrove.
Revenue Minister Todd McClay says New Zealand and international companies are reaping the benefits of the billion dollar programme to modernise and simplify New Zealand’s tax administration.
Doing business with Inland Revenue is 23 per cent easier than it was last year, says Revenue Minister Todd McClay. "Inland Revenue’s stated aim is to save taxpayers time and money and it is working," says Mr McClay.
A bill aimed at preparing the way for a simpler and more modern tax administration system passed its first reading in Parliament today.
A survey of Auckland tradespeople shows an Inland Revenue campaign highlighting cash jobs has hit home, with four in five believing they’ll get caught if they cheat on their taxes.
The Taxation (Bright-line Test for Residential Land) Bill, which contains proposals to improve compliance with the tax rules on the sale of residential land, has passed its first reading in Parliament.
Revenue Minister Todd McClay says a paper released today for public feedback aims to make the current tax rules for closely held companies more workable.
Revenue Minister, Todd McClay, today released a discussion document on the collection of GST for online purchases.