Tax simplification welcomed

Published: Wed 13 Apr 2016 02:23 PM
Media release
13 April 2016
Tax simplification welcomed
Business tax changes will make compliance easier for most enterprises, BusinessNZ says.
The Prime Minister announced improvements to several areas of business tax in a pre-Budget speech to business today.
BusinessNZ Chief Executive Kirk Hope said the changes were incremental, and spread across a number of tax areas, and should be particularly helpful to small business.
“The changes to provisional tax will help increase certainty for business planning.
“The changes will also boost businesses’ ability to interact on-line with the IRD.
“The more pragmatic late payment penalty regime will be welcomed by business.
“The adjustment towards more transparency in reporting and sharing information will be welcome as part of an overall focus on transparency.”
Mr Hope said business would be giving feedback to the IRD about the changes to help guide the tax simplification process further.

Next in Business, Science, and Tech

Food Prices Increase 7.4 Percent Annually
By: Statistics New Zealand
REINZ July Data: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market
Cigna Admits Making False And Misleading Representations
By: Financial Markets Authority
Retail NZ Welcomes Return Of Cruise Ships
By: Retail NZ
ASB Full Year Results: Building Resilience Today And For Our Future
By: ASB Bank
Commerce Commission Issues Draft Determination On News Publishers’ Association’s Collective Bargaining Application
By: Commerce Commission
Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months
By: Barfoot and Thompson
View as: DESKTOP | MOBILE © Scoop Media