Credit agencies excluded from tax information sharing

Wednesday, 24 November 2010 1 Comment

“The IRD needs to be careful that the integrity of the tax system is not undermined by a perception that taxpayers could be bullied into accepting and settling tax amounts that may otherwise be in dispute due to the threat of disclosure to a credit agency,” Lash said.

“That is particularly so for small businesses, which clearly do not have the same resources at their disposal that IRD has.” Revenue Minister Peter Dunne tabled the Taxation (Tax Administration and Remedial Matters) Bill in Parliament this week.

As well as changes aimed at making the tax system more streamlined Dunne said, “The Bill also introduces changes to the tax administration rules to give Inland Revenue greater flexibility to share tax information with other government agencies and improve the quality of information across government.”

“The proposed new rules will allow Inland Revenue to share this information if that agency has the ability and authority to collect that information in its own right.”

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