INDEPENDENT NEWS

New Zealand’s tax system second in the OECD

Published: Tue 29 Sep 2015 03:42 PM
Hon Todd McClay
Minister of Revenue
29 September 2015
New Zealand’s tax system second in the OECD
For the second year in a row, New Zealand’s tax system has been judged second only to Estonia as the most competitive tax system in the world.
Revenue Minister Todd McClay says this is welcome news, but says changes through the Business Transformation programme will make the system even more competitive.
“New Zealand’s tax system is already very highly regarded internationally. Its broad-based-low-rate (BBLR) offers a fair and consistent platform for individual and corporate taxpayers alike,” says Mr McClay.
The annual assessment of tax jurisdictions is undertaken by the Washington-based Tax Foundation.
“It is also very pleasing that the Tax Foundation has cited New Zealand’s focus on positive tax reform as one of the major elements in the ranking success.
“We have the most substantial reform of the New Zealand tax administration in our history underway at the moment. Business Transformation will further improve the competiveness of our tax system.
“This multi-year, multi-stage programme will modernise and simplify our tax administration and bring it into the digital age. It is currently ahead of time and under budget.
“I would like to thank Inland Revenue’s management and staff for another exceptional year," says Mr McClay.
ENDS

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