A focus on topical tax issues - December 2014
Inland Revenue’s 2014 Annual Report: some reading between the lines
Inland Revenue (IR) recently released its annual report for the year ended 30 June 2014 (the report). Consistent with previous years, IR has continued to focus on achieving more of its performance targets, operating more efficiently, recovering more debt and winning more cases.
The report notes that IR is making tax simpler, more open and more certain. There has been an emphasis on building a tax system for the future as IR simplifies and streamlines the tax system, transforms tax policies and makes use of new technology to modernise the tax system.
We have outlined below some highlights from the report, as well as commenting on some areas where the arguably more interesting points are to be drawn from what the report does not say, rather than what it does in fact state. More >
Also in this issue
Briefing for the Incoming Minister of Revenue
New Zealand Revenue Minister releases update on taxation of multinationals
The Commissioner’s power of reconstruction: No day at the beach for taxpayers
What are the tax compliance issues that Inland Revenue is focusing on?