IRD launches the Compliance Focus in 2013
29 October 2013
Inland Revenue launches the Compliance Focus in 2013
The Compliance Focus materials have been launched today as Inland Revenue continues to make it easier for businesses to do business with the department.
“Our Compliance Focus is about delivering information on our key areas of focus and encouraging voluntary compliance,” Commissioner Naomi Ferguson said.
“Rather than release a single annual document as we have done in previous years, our new approach will be a series of reports across a range of issues, providing in-depth material for the public and tax community.”
Ms Ferguson said that this Compliance Focus provides greater clarity of the tax rules for both small and large enterprises.
“The vast majority of New Zealanders and businesses do the right thing and contribute to New Zealand’s prosperity. We collect the revenue needed to deliver essential services like healthcare, education and safer communities for New Zealanders.
“By providing information and assistance to our small-medium enterprises, Inland Revenue is not only directly supporting those businesses to get it right but in turn helping those who they employ to meet their tax obligations as well.”
Ms Ferguson said that New Zealand is part of an increasingly globalised world, and although multinational enterprises have an important role in building a strong economy, it is important they meet their tax obligations as well.
“Along with listing ‘ten red flags’ regarding compliance, the document highlights the areas where non-compliance may occur including transfer pricing, international financing arrangements, and the risk areas for GST.
“We are also working with the OECD on its Base Erosion Profit Sharing (BEPS) initiative and also with our major tax treaty partners because international tax issues require international solutions.
Inland Revenue’s job is to make it as easy as possible for customers to manage their business with us,” Ms Ferguson said.
The Compliance Focus is online: http://www.ird.govt.nz/taxagents/compliance/focus/