The New Zealand tax system has been rated as the 27th best in the world for its ease of compliance. Last week the international professional services firm PricewaterhouseCoopers released a new study ranking the tax burdens and ease of paying taxes in countries across the world. In the report New Zealand was ranked as the 27th highest in regards to the efficiency of its tax system. The research compared the tax systems of 183 different countries, inspecting the burdens faced by medium sized businesses ... Read More

Tax experts in New Zealand are calling out the Inladn Revenue Department for taking unreasonable new stances towards salary payments and tax evasion. Over the weekend Jo Doolan, a tax partner at Ernst & Young New Zealand, commented on the recent court ruling in the "Penny & Hooper" tax case, saying that the Inland Revenue Department (IRD) is now using the case as justification for further tax measures on business owners. According to Jo Doolan the Inland revenue Department is proposing that, ... Read More

New Zealand’s business environment and tax policies are encouraging a greater number of international companies to shift their operations into the country. While making a media statement on May 31st, ManufacturingNZ executive director Catherine Beard said that New Zealand’s 28 percent corporate tax rate and comparatively low wage rates is an strong incentive for Australian manufacturers to shift at least part of their production to New Zealand based facilities. Her comments came in response to an announcement made on May 27th by ... Read More

Nearly 30 000 New Zealand companies have had to make arrangements with the Inland Revenue Department, claiming that the recession has affected their ability to meet their tax obligations. Throughout the previous financial year, the Inland Revenue Department (IRD) and 29 520 New Zealand businesses have made installment-payment agreements for NZD 546 million worth of unpaid taxes. A similar negative effect on tax payments is expected to continue throughout the current fiscal year, according to the IRD’s latest annual Compliance Focus report, released ... Read More