Parliament has been presented with a report by the Finance and Expenditure in regards to upcoming tax changes. The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill which was introduced in the July of 2008. The Finance and Expenditure Committee has replied to the proposed changes in four volumes, addressing the various aspects of the bill. Some changes are recommended, including the delay of some aspects. The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill sought to radically address numerous aspects ... Read More

Peter Dunne is advising that the government delay the series of tax reforms that it is set on implementing on the 1st of April. Revenue Minister Peter Dunne has voiced his concern in regards to the Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill, introduced last July. According to him, there are numerous business owners and their tax advisors that are not necessarily ready or fully comprehend the changes that are set to occur on the 1st of April. Peter Dunne ... Read More

The Inland Revenue Department (IRD) has issued a statement reminding people of their option of changing the way they pay Provisional Tax, and the impending deadline of the option. The IRD is allowing people who opt in before the end of March to use the new “ratio option” to calculate their provisional tax liability. According to the IRD this option would be most beneficial to businesses with heavily fluctuating cash flows. The new system will be calculated based on the most recent GST ... Read More