Jan 22, 2010
The New Zealand Government has announced that it will launch an investigation into the possibility of reforming the national company registration process in the wake of controversy surrounding a New Zealand company’s involvement with North Korean weapons smuggling.
Simon Power, Commerce Minister of New Zealand, issued a press release on January 21st stating that he is [...]
The New Zealand Government has announced that it will launch an investigation into the possibility of reforming the national company registration process in the wake of controversy surrounding a New Zealand company’s involvement with North Korean weapons smuggling.
Simon Power, Commerce Minister of New Zealand, issued a press release on January 21st stating that he is requesting feedback from officials and industry figures regarding whether any aspects of the New Zealand company registration process can or need to be strengthened. Prime points of ... Read More
Jan 21, 2010
The New Zealand Government initiated research group, the Tax Working Group, has released its final report cataloging numerous tax changes it considers essential for the country.
On January 20th The Tax Working Group published its widely anticipate final report, which recommends thirteen primary changes to the New Zealand tax landscape, along with identifying concerns regarding the [...]
The New Zealand Government initiated research group, the Tax Working Group, has released its final report cataloging numerous tax changes it considers essential for the country.
On January 20th The Tax Working Group published its widely anticipate final report, which recommends thirteen primary changes to the New Zealand tax landscape, along with identifying concerns regarding the current tax situation.
The Tax Working Group report claimed that there is a lack of coherence, integrity and fairness within the country’s tax system, saying that a too ... Read More
Nov 4, 2009
The New Zealand branch of Westpac Banking Corp has revealed its intention to appeal the New Zealand High Court’s decision on the bank’s tax assessment.
Last month Westpac had challenged an amended assessment of their tax information by the Inland Revenue Department. The New Zealand High Court had decided to dismiss the challenge, leaving Westpac [...]
The New Zealand branch of Westpac Banking Corp has revealed its intention to appeal the New Zealand High Court's decision on the bank's tax assessment.
Last month Westpac had challenged an amended assessment of their tax information by the Inland Revenue Department. The New Zealand High Court had decided to dismiss the challenge, leaving Westpac liable for NZ$586 million in unpaid taxes and a possible NZ$332 in interest. George Frazis, Westpac NZ Chief Executive, said, regarding the appeal decision "In our view ... Read More
Oct 26, 2009
The New Zealand Inland Revenue Department (IRD) and Government figures have given clear indication that the country will see increased pressure on tax evaders in 2010.
According to a submission from the IRD to the government supported Tax Working Group, released October 25th, the government is losing approximately NZ$300 million in taxation receipts annually through money [...]
The New Zealand Inland Revenue Department (IRD) and Government figures have given clear indication that the country will see increased pressure on tax evaders in 2010.
According to a submission from the IRD to the government supported Tax Working Group, released October 25th, the government is losing approximately NZ$300 million in taxation receipts annually through money hidden in trust accounts. The total tax evasion amount is only increased when companies created purely for the purpose of tax avoidance are considered. Statements by ... Read More
