Tax Alert - November 2013
Tax Alert is a monthly publication that keeps you up to date with the latest developments in tax. The alert is compiled by our national tax specialists who are continually monitoring the outlook for new tax developments and analysing the implications for our clients.
Multinationals come under the compliance spotlight
Inland Revenue has released a compliance focus document aimed at multinationals. The term multinational is used as the document draws a lot of its themes from the current global focus on multinationals and base erosion and profit shifting concerns. However, all medium to large New Zealand companies should be cognisant of the proposals in this document.
While there are some useful checklists included, this document is also peppered with statements which can effectively be interpreted as “you have been warned, so get your ducks in order before we come calling” which is no doubt intended to encourage compliant behaviour by taxpayers. Some comments however, also run the risk of frightening off those that want to do business in New Zealand or New Zealand enterprises who wish to expand internationally as tax outcomes of doing business could be less certain or more costly.
Also in this issue:
- Regular pattern of building and selling houses catches up with trustees
- The OECD base erosion and profit shifting project – how New Zealand might respond
- Chinese tax and business regulatory framework: evolving landscape and hot topics
- GST and mixed use assets
- Equity based remuneration
- Records in the cloud