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Wednesday, 28 May 2014

The tax simplification panel

The Web Social logo.
For four years I ran my own business, Web Social Ltd, part-time. It was a great real-world experience, especially when it came to dealing with the IRD. So I'm pleased to see that Revenue Minister Todd McClay has announced the establishment of a Taxpayer’s Simplification Panel to give New Zealanders a voice in simplifying, modernising and transforming the way we pay tax.

The Taxpayer’s Simplification Panel will ask customers to submit their views on any aspect of tax compliance to find areas where Inland Revenue can make paying tax easier for taxpayers.

New Zealand has over 450,000 small to medium sized businesses, which account for 97% of all businesses. “It is my view that currently small business owners are required to spend far too much time on tax compliance, which is time better spent on running their businesses