The week's tax news in one handy summary.
New Zealand Tax
- Here's my first impressions on the Tax Working Group's Submissions Background Paper
- IMO the present response has been little more than a box-ticking exercise. Needs some serious resources devoted to it | More than $1 billion is laundered in NZ every year: Police
- Unsurprisingly the New Zealand Property Investors Federation is against CGT & glosses over the imbalances resulting from the present treatment | Business debate: Should NZ introduce a capital gains tax?
- I agree with @bernardchickey about the merits of a land tax - there's a good reason why it was the option the last TWG preferred to a CGT | Why a land tax is the best tax reform
- Although the banks have form for tax avoidance they are right to raise concerns about expanding IRD's information gathering powers | No need for 'sledgehammer' tax avoidance rules – Westpac
- Re-upping this - I'll have more thoughts on the Submissions Background Paper over the next few weeks
- Sir Michael Cullen will be discussing the Tax Working Group's work live on Facebook from 6.30 tonight
- This was a big theme @BeeFaerie and I discussed in 'Tax and Fairness' I was pretty astonished to see the TTE principle being praised in the TWG's Submissions Background Paper | Brian Fallow: Tax sends the wrong message on saving
- Plenty to consider in the OECD Secretary-General's report on international tax presented yesterday to the G20 finance ministers. It covers #digitaltax, #taxtransparency, #BEPS and more
- Extremely good timing releasing this just as Parliament is in the process of enacting BEPS related legislation
- We have no reliable estimates for New Zealand but as KPMG note similar to Australia every dollar invested in IRD yields $6-7 | Australia’s black economy is now worth an estimated $32 billion
I follow interesting tax news stories from around the world and share them on Twitter.
These are a selection of our best tweets from the previous week.