Paying Taxes 2014 report: PwC, the World Bank, and the IFC

Paying Taxes 2014 report PwC, the World Bank, and the IFC

PwC, the World Bank, and the IFC today released a new report Paying Taxes 2014 that shows how economies around the world are adopting a range of policies as they strive to strike a balance between raising tax revenues and encouraging growth.

The Paying Taxes 2014 study found that 32 economies took steps between June last year and June 2013 to make it easier and less costly for small and medium businesses to pay taxes. For the third consecutive year, the most common tax reform was the introduction or improvement of online systems for tax compliance.

You can read the survey and news release at http://pwc.to/17JXuVC.

What does this mean for New Zealand?
Our PwC New Zealand Tax Partner Geof Nightingale says, "Paying Taxes shows again that New Zealand has a relatively high performing tax system in world terms with our overall rating for ease of paying taxes being 23rd out of more than 180 countries surveyed. Yet, we have slipped from a 9th rating in 2010 in the same survey as other tax jurisdictions around the world modernise tax collection and administration systems, broaden tax bases and lower tax rates. This shows that the Government's intention to support Inland Revenue's major business transformation is the right investment to make to keep the New Zealand tax system world class and minimise its drag on economic activity."

ENDS

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