NZ ahead of global average on paying taxes

  • 19/11/2016
New Zealand scored 96.9, where 100 is the best score (iStock / file)
New Zealand scored 96.9, where 100 is the best score (iStock / file)

You may not like taxes, but they're easy to pay in New Zealand.

The Paying Taxes 2017 report by The World Bank Group and PwC puts New Zealand well ahead of the global average in respect of businesses dealing with their tax obligations.

The report compares tax regimes across 190 economies worldwide.

New Zealand ranks 11th, up from 22 last year.

"The ability to do business and pay taxes in New Zealand is world class and the Inland Revenue's business transformation project will continue to simplify processes and further improve our business-friendly tax system," says Geof Nightingale, PwC Partner in New Zealand.

New Zealand scored 96.9, where 100 is the best score, ahead of Australia (95.4) as well as the UK (87.4).

In most economies, filing a tax return with the tax authority is a long process that does not imply acceptance of the final tax liability.

Post-filing processes - such as claiming a GST refund, undergoing a tax audit or appealing a tax assessment - can be challenging.

"In New Zealand, the process is seen as relatively efficient, fair and transparent," Mr Nightingale said.

NZN

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