Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search


IRD's Graham Holland Is Seeking Advice On Magnum

IRD Commissioner Graham Holland has just spoken to the Finance and Expenditure Select Committee saying he will be seeking advice from the Solicitor General on further prosecution of the "Magnum Transaction", at the centre of the Winebox inquiry.

Under intense questioning from Winston Peters before the committee Mr Holland said that with the Davison Winebox findings saying there was no tax avoidance in the transaction the IRD had been unable to pursue prosecution till now.

The IRD had always been of the opinion that Magnum was an example of tax avoidance, and following Friday's virtual overturning of the Davison report he had approached the Solicitor General John McGrath.

He said there were some practical issues in that European Pacific no longer existed, however that did not totally rule out pursuing others.

Mr Holland told the committee that $2 million is at stake in the case. He was of the opinion that recovery would cost less than this.

Mr Holland was appearing before the committee to present IRD's response to submissions made to the inquiry into powers and operations of the IRD.

In his opening statement he conceded that mistakes had been made and that the IRD not handled some situations, "as well as we would have hoped".

He then outlined to the committee reviews and improvements underway in the department particularly in the area of disputes procedures and complaints management.

© Scoop Media

Top Scoops Headlines


Using Scoop Professionally? Introducing ScoopPro

ScoopPro is a new offering aimed at ensuring professional users get the most out of Scoop and support us to continue improving it so that Scoop continues to exist as a public service for all New Zealanders. More>>


Don Rennie: Is It Time To Take ACC Back To First Principles?

The word “investing” has played a major part in the operations of the ACC since 1998... More>>

27-29 Sept: Social Enterprise World Forum Live Blog

1600+ delegates from more than 45 countries have came together to share wisdom, build networks and discuss how to create a more sustainable future using social enterprise as a vehicle. Attending the Forum were social enterprise practitioners, social entrepreneurs, policy makers, community leaders, investors, activists, academics and more from across the globe... More>>

HiveMind Report: A Universal Basic Income For Aotearoa NZ

Results from this HiveMind suggests that an overwhelming majority of Kiwis believe that due to changing circumstances and inefficiencies in the current system, we need a better system to take care of welfare of struggling members in our society. More>>


Scoop Hivemind: Medical Cannabis - Co-Creating A Policy For Aotearoa

Welcome to the fourth and final HiveMind for Scoop’s Opening the Election campaign for 2017. This HiveMind explores the question: what would a fair, humane and safe Medical Cannabis policy look like for Aotearoa, NZ in 2018? More>>