Annabel Young National Revenue Spokesperson

19 April 2001

IRD Commissioner should attend Green Dollar Conference

The Commissioner of Inland Revenue should be attending the Green Dollar conference in Christchurch tomorrow - in fact he should be talking to the conference about tax issues and the Green Market, National's Revenue spokesperson Annabel Young said today.

The Green Dollar Conference 'Survival into the 21st Century and Beyond...It's up to you' kicks off tomorrow (Friday) evening in Christchurch.

"Black Market transactions in New Zealand are estimated at $9 billion. The Green Market comprises hundreds of millions of dollars of that.

"The IRD is currently doing nothing to police the Green Market in New Zealand or to detect the level of Green Market transactions or tax evasion.

"I'm not talking about trading veges over the back fence or 'selling' the odd pot of honey. The Green Market has become bigger than that. When a tradesman is painting roofs or doing fencing in exchange for green dollars, they are evading a fair chunk of tax - and it's honest taxpayers that are paying the price.

"Two hours have been set aside at the Green Dollar Conference to learn how to run a green dollar office. The session entitled 'Green $$$ Office membership & Accounting System Software' should include ways in which the Green Market can comply with tax laws.

"The IRD Commissioner shouldn't shy away from this issue just because it is labelled 'green'. If he continues to ignore it, he is effectively endorsing a tax dodge that could amount to tens of millions of dollars.

"The IRD are responsible for making sure that everyone complies with the law - and that includes transactions that don't involve conventional dollars and cents," Annabel Young said.

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