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Tax Alert - November 2012


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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.

The binding rulings process – the price of certainty

In 2010 Inland Revenue introduced an enhanced binding rulings process after widespread criticism that the process was taking too long and was too costly with many taxpayers questioning its value.  Two years on, the enhanced process appears to be working much better which is supported by the reduction in time taken to issue a ruling and a steady increase in the number of taxpayers applying for a ruling as they regain confidence in the process.  In this article we explore when it may be appropriate to apply for a binding ruling and what taxpayers can expect from this enhanced process.

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