Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


CIS raises valid issues say Chartered Accountants

14 September 2006

Centre for Independent Studies raises valid issues say Chartered Accountants

The Institute of Chartered Accountants says that it supports the broad-based low rate approach for the tax system advocated in the "How to fix a leaky tax system" document released by the Centre for Independent Studies today.

"While we may not agree on all points of the report, the Institute agrees that the interests of all New Zealanders are best served by a tax system with a structure that is as low and flat as possible."

"New Zealand's tax system has moved away from this in recent years and the future is not looking too promising either," tax director Craig Macalister said.

"A tax system should be simple in its application, certain in outcomes and perceived as broadly fair. It should also be designed to minimise distortions to the economic behaviour of taxpayers. This means a tax system that taxes business as it finds it - rather than creating incentives for business to change itself to adapt to the tax system."

"While there will always be ideological debates about the level of taxes people pay, a complex system ultimately benefits few at the expense of all."

"Even those responsible for administering the tax system are warning about its fragility."

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news