Tax-News.com: Tax Compliance Burden Falling, Say KiwiSMEs

17 April 2015

Tax compliance costs for small- and medium-sized enterprises (SMEs) in New Zealand havecontinued to fall, according to the findings of a recent survey.

Inland Revenue and Research New Zealand surveyed 1,206 SMEs about tax compliance costs in2013/14 and compared the findings with results from two earlier surveys in 2004 and 2009. Thereport shows tax compliance costs have fallen by 11.7 percent since 2004.

Commenting on the findings, Small Business Minister Craig Foss said: "This is excellent news forNew Zealand's small businesses but there is still more work to be done."

"The Government is committed to further reducing the cost of doing business with measures such asthe Rules Reduction Taskforce and the recently launched public consultations on modernizing andsimplifying the tax system," he added.

The Government said discussions were held with 25 business owners following the 2013/14 surveyto determine how Inland Revenue could further help ease compliance costs.

Foss said: "I encourage small business owners to keep engaging with the Government and sharingtheir ideas for improving the business environment. Helping our small businesses grow will help theNew Zealand economy grow."

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