It is interesting to observe the Inland Revenue Department’s policy programme, which is currently focussing on three key areas: 1. Business transformation; 2. BEPS and international tax reform; and 3. further improvements and enhancements to tax and...
New Zealand is listed as one of the heaviest taxing countries in the OECD’s annual revenue statistics report, which covers the OECD countries. Of New Zealand’s tax revenues, 59.6% are collected from individuals and corporates, second only to Denmark (59%)....
New measures included in this latest Taxation Bill include: A Residential Land Withholding Tax (RLWT) applicable on sales of residential property by offshore persons who sell the property within two years of acquisition, applicable to property purchased after 1...
New Zealand has released two sets of policy proposals for simplifying tax administration: 1. Making tax simpler – Towards a new Tax Administration Act 2. Making tax simpler – Better administration of PAYE and GST Tax administration In an address to the...
GST increases in New Zealand effective 1 October 2010. This has been heavily publicized by accounting professionals and the Inland Revenue Department in the past month. New Zealand still does not exempt necessary items such as food from GST as does Australia. Tax cuts...
