Inland Revenue Department tagged posts

Tax Rules Loosened For Quake Victims

November 24, 2016 New Zealand Taxation

Taxes of Kaikoura quake victimsTaxpayers in and around Kaikoura will have some reprieve, as their tax filing requirements are eased during the recovery.

On November 22nd the Minister of Revenue Michael Woodhouse announced that special measures have been enacted to ease the filing burdens of taxpayers impacted by the earthquake in Kaikoura.

The Minister explained that following an Order in Council the IRD will waive the Use-of-Money-Interest on any late payments, which are a result of the earthquake.

The waiver is currently scheduled to last until January 31st, although it is not impossible that the deadline may be extended further if such a step is deemed necessary.

The Minister also noted that the Inland Revenue has opted to drop its own late-filling and late-payment penalties for anyone affected by the recent quak...

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Revera Wins $60 Million IRD Contract

February 12, 2016 New Zealand Taxation

Some More Sun DisksA New Zealand firm has won a multimillion dollar contract to provide online cloud based solutions to the Inland Revenue Department for the next 10 years.

In a statement issued on February 12th the Inland Revenue Department has announced that it has awarded a contract worth up to NZD 60 million to the New Zealand provider of cloud based services.

The contract will see Revera, a subsidiary of Spark, provide cloud based services to the IRD as part of the business transformation programme aimed at updating the tax authority’s infrastructure, processes, and customer-facing services.

The transition to modern cloud based services means that the IRD may see a cost in operating costs as the scale of the services provided and the applicable cost can be reduced or increased to meet the demands of ...

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Tax System Receives Good Review From IRD

November 13, 2014 New Zealand Taxation

Tax system in New ZealandThe IRD has evaluated the New Zealand tax system, rating it as efficient and well-functioning, but has pointed out some upcoming challenges.

On November 12th the Inland Revenue Department released its Briefing for the Incoming Minister of Revenue – 2014, detailing the strengths of the current tax system in New Zealand, and describing the changes which may need to be implemented in the foreseeable future.

According to the IRD, the state of the current tax system in New Zealand is generally positive, and the current ‘broad-base, low rate’ approach to taxation is efficiently allowing tax rates to be kept as low as practical, while simultaneously making system easy to understand, administer and implement.

It was specifically noted in the Briefing that even though tax rates are being k...

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IRD Forms New ICT Group

October 29, 2014 New Zealand Taxation

ICT in New ZealandThe IRD has formed a new specialist group to provide expertise on how technology can be used to pay taxes in the future.

On October 22nd the IRD issued a statement announcing that seven people have now been appointed to the Information and Communications Technology (ICT) Reference Group, which is aimed at helping the IRD make better use of information technology in the national tax system.

According to the Chief Technology Officer at Inland Revenue Myles Ward, the individuals selected to serve on the group will provide a wealth of knowledge and experience regarding the ICT sector in New Zealand, and will provide insight to “…ensure technology is used effectively to help simplify the process of paying tax and receiving entitlements.”

He added that the “…Inland Revenue is confident t...

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