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 Inland Revenue Department (IRD) has begun a review of financing transactions made by a tobacco firm. On May 6th British American Tobacco (New Zealand) Ltd (BAT) revealed that it is currently under investigation by the IRD for a set of financing transactions. Although both parties refused to disclose complete details on the investigation, industry analysts believe that the alleged discretion is similar to the tax evasion through structured financing charges laid against several New Zealand banks recently. The BTA has ... Read More

The New Zealand Revenue Department (IRD) has issued a warning to customers regarding hoax emails they might receive with offers of tax refunds. In a media statement released March 10th, the IRD revealed that it has received multiple customer-reports of a suspicious email being circulated to its clients. The email allegedly bears the IRD logo and informs recipients that they are entitled to a tax refund. It later directs readers to visit a website which requests an array personal details, including usernames and ... Read More

An Upper Hut resident who defrauded the Inland Revenue Department (IRD) for NZD 41 000 by using a system fake church donations has been sentenced to seven months home detention and 120 hours of community service. James Talaga Toala, received sentencing at the Wellington District Court on February 26th, after pleading guilty to six charges of using documents to defraud or receive monetary gain. It was alleged by the IRD that in the period between April 2002 and March 2008 James Toala ... Read More