Deloitte report a vote of confidence in New Zealand’s tax system

Revenue Minister Todd McClay has described Deloitte’s 2014 Asia Pacific Tax Complexity Survey Report as ‘a vote of confidence in New Zealand’s tax system’.

“It has been the focus of this Government to continually refine the tax system, and ensure fairness for taxpayers,” says Mr McClay.

“It is both gratifying and extremely useful to have the work of the last few years endorsed in this manner. Such an international vote of confidence in our tax system helps to encourage investment and therefore grow our economy.”

The report describes today’s business environment as a period of risk, uncertainty and opportunity. Businesses find themselves having to contend with tax laws of ever-increasing complexity to deal with the effects of globalisation, the growth of digital economies, and base erosion and profit shifting (BEPS).

“In this challenging environment, Deloitte’s report found that New Zealand’s tax policies are seen as straightforward, consistent and predictable compared with other countries in the region.”

“The report shows that survey respondents in the Asia Pacific region have picked up on this. It is also good news for New Zealand companies looking to do business in the region as it gives our businesses an edge.”

“Taxation matters are a key consideration for businesses and investors today.”

“This Government places particular emphasis on the coherence of our tax policy and in simplifying tax compliance.”

“Our broad base, low rate tax system provides businesses with certainty and helps provide the environment that supports economic growth,” says Mr McClay.

The survey report – Risk, uncertainty and opportunity in a changing landscape is available at: www.deloitte.com.