New Zealanders Don’t Want More Tax Guidance

May 23, 2013 New Zealand Taxation

Tax guidanceNew Zealand businesses claim that they are happy with the current tax system in New Zealand, with more than half claiming that they do not need any extra guidance from tax authorities.

In a press release issued on May 23rd the accounting firm Grant Thornton revealed the results of a recent survey which showed that less than half of all New Zealand businesses would like to be issued with more tax guidance from tax authorities in the country.

In comparison, the research conducted by Grant Thornton showed that worldwide an estimated 68 percent of businesses would like to be issued with mire tax guidance, compared to the 47 percent in New Zealand.

Comparatively, the results of the research showed that nearly 75 percent of businesses in the Eurozone would like to see more tax guidance, and 67 percent of businesses in the Asia-Pacific region had the same request.

Grant Thornton explained that more tax guidance may bring a greater sense of security to businesses’ tax situations, but may minimize opportunities to lower tax obligations when doing international businesses.

Explaining the results, the tax partner at Grant Thornton Geordie Hooft also said “…it seems that New Zealand businesses are reasonably happy across the board, with 60% believing our tax system encourages compliance against a global average of 37%, and 54% believing that taxpayers are being charged correctly compared with a global average of 28%.

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