Jul 7, 2010
A New Plymouth company director has been fined for two counts of failing to adequately declare his income. In his defense, the man partially attributed the omission to supposedly not understating the meaning of the “$” symbol. On July 6th, Stephen Blackman, director and shareholder of Plant and Platform Consultants LTD, was fined NZD 1500 [...]
A New Plymouth company director has been fined for two counts of failing to adequately declare his income. In his defense, the man partially attributed the omission to supposedly not understating the meaning of the “$” symbol.
On July 6th, Stephen Blackman, director and shareholder of Plant and Platform Consultants LTD, was fined NZD 1500 in addition to court costs on July 6th, for two charges of filing false or incomplete tax returns. According to the New Zealand Inland Revenue Department (IRD) Stephen ... Read More
Jul 5, 2010
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 [...]
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
Apr 12, 2010
A Wellington based property developer has been sentenced to two years jail time for multiple tax evasion charges. On April 12th the Wellington District Court sentenced Lance Christopher James to two years jail time for 19 separate tax evasion charges amounting to NZD 365 184. Lance James pleaded guilty to eight charges of failing to [...]
A Wellington based property developer has been sentenced to two years jail time for multiple tax evasion charges.
On April 12th the Wellington District Court sentenced Lance Christopher James to two years jail time for 19 separate tax evasion charges amounting to NZD 365 184. Lance James pleaded guilty to eight charges of failing to file a personal tax return or paying appropriate tax obligations, and 11 charges of failing to pass on employee PAYE deductions. Despite having repaid some of ... Read More
Oct 9, 2009
The Inland Revenue Department (IRD) has won its tax evasion case against Westpac Banking Corp, resulting in a NZ$918 million fine for the bank. The New Zealand High Court made a decision to dismiss Westpac’s challenge to IRD’s decision that the bank owes $586 million in taxes for a series of structured finance transactions. The [...]
The Inland Revenue Department (IRD) has won its tax evasion case against Westpac Banking Corp, resulting in a NZ$918 million fine for the bank.
The New Zealand High Court made a decision to dismiss Westpac’s challenge to IRD’s decision that the bank owes $586 million in taxes for a series of structured finance transactions. The IRD claimed that between 1998 and 2002 the bank undertook a series of offshore transactions whose sole purpose was tax evasion. The court proceedings centered around nine such ... Read More
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