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New Zealand To Speed Up GST Refunds In 2017

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

16 December 2016


New Zealand will speed up its process for refunding Goods and Services Tax (GST) from February 2017 by paying the money directly into taxpayers' accounts rather than sending a check.

Taxpayers will instead receive GST refunds within two days, significantly faster than the 10 days it takes to process a refund by check, Revenue Minister Michael Woodhouse said.

"It is just one of a number of changes that will be introduced next year as part of Inland Revenue's modernization program to make it easier and faster for New Zealanders to manage their tax affairs," he said.

From February 7, 2017, GST refunds will only be paid by check if Inland Revenue does not have a taxpayer's bank detail, or in special circumstances, such as hardship. The change follows a 2015 consultation on using digital technology to simplify tax agency processes.

TAGS: tax | value added tax (VAT) | goods and services tax (GST) | New Zealand | services | VAT refunds | Tax

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