Participating Advisor programme

Inland Revenue (IR) recently launched the Participating Advisor programme, a significant initiative to enhance tax governance and compliance across Aotearoa.

Deloitte is proud to be an approved Participating Advisor for GST, FBT and Payroll reviews.

Organisations should expect the same comprehensive Deloitte review products, augmented by the confidence of working with an ‘approved provider'.

Participation in this program is voluntary, initiated by the customer, and not mandated by IR.

The Participating Advisor programme is a great example of how tax advisors and Inland Revenue can work together to promote tax governance and compliance in New Zealand.

What is a Participating Advisor review?

An initiative that aligns a Deloitte tax review with Inland Revenue's intervention so it can be presented and used to satisfy Inland Revenue.

The review remains valid for four years provided there are no significant organisational changes.

Who can undertake a Participating Advisor review?

A company or a group of companies with more than 50 employees or more than $30m turnover.

Do I have to be issued with an audit notification or receive a review request from Inland Revenue?

No, you may choose to participate voluntarily in a review as part of good tax governance. The findings can then be used in the future if Inland Revenue commence a review or audit, however it is up to you whether you want to share it with Inland Revenue.

What does the process involve?

Subject matter experts collaborate with you using a tailored questionnaire and undertake a workshop to understand systems and processes.
A traffic light report highlights the key risks and opportunities and empowers your people to move forward with confidence.
You retain the report, and you decide whether you would like to present it to Inland Revenue or go through their normal review process.

What are the benefits?

Reduced time pressure – there is often time pressure once Inland Revenue contacts you, however Deloitte can fit in with you and your timeframe.
A living document – actions taken from review findings are included to show remediation steps.
Expertise on hand – subject matter expertise.
Voluntary Disclosures – penalty reduction where an audit has not commenced.
M&A – great for presenting in a due diligence to show governance and low risk.
Traffic light report – both risks and opportunities identified.

Insights