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New Zealand Reports Decline In Tax Debt

by Mary Swire, Tax-News.com, Hong Kong

21 January 2015


New Zealand's Inland Revenue Department collected tax debts worth NZD4.1bn (USD3.15bn) in 2013/14, the Government revealed on January 20, 2015.

New Zealand's Revenue Minister, Todd McClay, said that the amount was NZD752m more than that recorded in the previous fiscal year.

"This Government has invested heavily in providing Inland Revenue with the resources to bolster its tax compliance activities," he said.

"In Budget 2014 we invested an additional NZD132m, which was on top of the nearly NZD200m already allocated through Budgets 2010 and 2012 for tax compliance and debt collection work," McClay added. "This means that Inland Revenue has additional resource and capacity to deal with more cases, and as such debt identification has increased."

Inland Revenue has focused on collecting newer debt, which resulted in over 565,000 cases being resolved during the year. Of the 17 tax regions, 11 saw a reduction in tax debts in 2014 against 2013 levels.

TAGS: compliance | Budgets | tax | tax compliance | New Zealand | revenue statistics

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