NZ: Tax administration transformation proposals | KPMG | GLOBAL

New Zealand: Tax administration transformation proposals released

NZ: Tax administration transformation proposals

The latest release under the Inland Revenue’s business transformation proposals includes:

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  • Support for Inland Revenue’s information sharing with other government agencies, and narrow taxpayer confidentiality rules so they do not apply to non-taxpayer specific information
  • An outline of rules for the collection of third-party data, for Inland Revenue’s risk profiling and audit purposes, and transparency about its collection
  • A goal to reduce the cost of Inland Revenue “certainty”, particularly for SMEs, in relation to binding rulings, and expanding the scope of the rulings regime
  • Explicitly recognising the role of various intermediaries in the tax system
  • Extending Inland Revenue’s administrative authority including the “care” and “management” discretion and allowing greater use of regulations to effect change

The proposals would have broad implications. Submissions are due by 24 February 2017.

 

Read a December 2016 report [PDF 580 KB] prepared by the KPMG member firm in New Zealand

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