Tax proposals welcomed

Business welcomes proposals for changes to the tax system.

BusinessNZ Chief Executive Phil O’Reilly says proposals including integrating tax compliance with online business activity and streamlining PAYE, GST and provisional tax would be carefully considered.

“It will be important that any proposed changes make tax administration easier not just for the IRD, but also for business.

“Fundamentally we want a tax system that is effective, fair and simple enough to give New Zealand business a competitive advantage.

On the issue of IRD’s digital services, Mr O’Reilly said these could significantly reduce compliance costs, especially for small business.

“Using digital services to ease communication and administration between government and business will be a great step forward. We are also interested in learning from the process, to create value for customer-to –business and business-to-business dealings.

“All taxpayers will want to see early, actual results from the process of change as the improvements are implemented.”

He said business would respond fully to the tax improvement proposals.

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