The Inland Revenue Department has released its briefing for the incoming Revenue Minister, saying that New Zealand needs to tweak the national welfare system and upgrade its tax infrastructure. On February 2nd the Inland Revenue Department (IRD) released the briefing for the incoming Revenue Minister of New Zealand, outlining the current state of the national tax system, which it deemed as strong and stable, saying "...New Zealand’s tax system is in a good place. The tax bases are broad, robust and provide reliable ... Read More

The New Zealand Government is proposing a series of extensive transformation to the tax filing administration process, promising to deliver greater information ability, ease of filing, along with lowered incidence of processing error and calculation mistakes. The Government and the Inland Revenue Department (IRD) are urging New Zealand taxpayers to give comment on planned changes to tax administration. On June 15th the Making Tax Easier proposal was introduced, along with a public consultation period lasting until July 23rd. For individual taxpayers, the IRD has ... Read More

The New Zealand Inland Revenue Department (IRD) will begin closer scrutiny of new zealanders with undeclared offshore assets and incomes, in an effort to stop tax evasion. Last week the IRD released a statement disclosing its intention to utilize New Zealand's existing Tax Information Exchange Agreements (TIEA) to catch potential tax evaders. Martin Scott, Group Manager of Assurance, revealed that the IRD is particularly interested in discovering New Zealand tax residents undisclosed offshore bank accounts, overseas life-insurance policies and superannuation benefits. Under current ... Read More

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 ... Read More