Tax Policy Work Underway in New Zealand

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...

NZ proposal on Hybrid Mismatch Arrangements

Last week the New Zealand government issued a discussion document proposing that the Organization for Economic Co-operation and Development (OECD)’s recommendations contained in the Base Erosion Profit Shifting (BEPS) plan for combating hybrid mismatches be...

OECD’s Annual Revenue Statistics – Global Tax

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 Zealand’s territorial tax system

New Zealand was the first country in the world to introduce the concept of corporate territorial taxation through the Land and Income Tax Assessment Act of 1891. It was, however, the 1990s before New Zealand had developed a comprehensive extraterritorial taxation...

The Future of U.S. tax reform

‘No-one can tell you what will happen in the future. But some people can really give you vision about what might happen’ (David Lifson CPA, introducing former House Ways and Means Committee Chairman Mr Dave Camp at the 2015 AICPA National Tax Conference). Mr Camp...