goods and service tax tagged posts
June 13, 2016 New Zealand Taxation
New Zealand First has raised questions about why GST collections from tourism are not rising in line with growing tourist numbers.
In a new press release issued on June 13th the New Zealand First Party claimed that the surge in tourist numbers has not been reflected in the national tax revenues from the collection of GST.
According to New Zealand First, while visitor arrival numbers may have increased, the total expenditure by tourists is not rising, as tourists are staying for a shorter time.
It was explained that “…There should be a parallel or ratio between total tourism revenue and GST derived from it,” but “…if we have a foreign tourism boom, then why is GST from tourism collection many billions lower than it should be from the total tourism revenue that Mr Key trumpets?”Read More
June 6, 2013 New Zealand Taxation
The IRD is seeking public opinion on proposed changes aimed at easing compliance burdens on the treatment of non-residents and their GST obligations.
On May 5th the Inland Revenue Department issued a new issues paper on the application of Goods and Service tax (GST) to non-residents, calling for some amendments to be made to current tax rules in order to ease the burdens administration and application of the tax.
Under current regulations, GST is not charged on services performed by New Zealand providers for non-residents who are not in New Zealand at the time that the service was performed.
However, complications can arise if the service is performed for someone who was visiting New Zealand at the time that the service was carried out.
The issues paper also points out that if the non-resi...Read More
April 24, 2012 New Zealand Taxation
The government is looking at overhauling the GST system to remove barriers for foreign businesses wanting to work in New Zealand.
In a media statement released on April 23rd the Minister of Revenue Peter Dunne announced that the government will be looking at amending the GST system to allow foreign businesses to make claims for a refund for purchases they make from local businesses.
Under current regulations, foreign entities which do business in New Zealand are not able to claim GST refunds like a New Zealand company. Commenting on the rules, the Minister said that “…our GST system is a hurdle for non-resident companies looking to do business with New Zealand businesses...Read More
June 21, 2010 New Zealand Taxation
The New Zealand Government has launched a Goods and Service Tax (GST) advisory panel, to help businesses transition to an increased tax rate on October 1st.
On June 21st the New Zealand Inland Revenue Department (IRD) announced the launch of the GST Advisory Panel. According to Peter Dunne, New Zealand Revenue Minister, the panel was created to aid the GST-rate transition for the generation of businesses who have not have not yet faced a sales tax increase.
Peter Dunne explained that the Advisory Panel will act as an intermediary for the IRD and the national business community. The Panel will communicate in both directions by attempting to clarify ambiguities for the business community, while possibly suggesting legislative amendments to the IRD...Read More