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Tax simplification welcomed

Media release

13 April 2016

Tax simplification welcomed

Business tax changes will make compliance easier for most enterprises, BusinessNZ says.

The Prime Minister announced improvements to several areas of business tax in a pre-Budget speech to business today.

BusinessNZ Chief Executive Kirk Hope said the changes were incremental, and spread across a number of tax areas, and should be particularly helpful to small business.

“The changes to provisional tax will help increase certainty for business planning.

“The changes will also boost businesses’ ability to interact on-line with the IRD.

“The more pragmatic late payment penalty regime will be welcomed by business.

“The adjustment towards more transparency in reporting and sharing information will be welcome as part of an overall focus on transparency.”

Mr Hope said business would be giving feedback to the IRD about the changes to help guide the tax simplification process further.

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