Date posted: 19/05/2020 2 min read

Submission on the Improving business-to-business payment practices in New Zealand Discussion Paper

Our submission to the Ministry of Business, Innovation and Employment on proposals addressing extended payment terms and late payments

We provided a submission to the Ministry of Business, Innovation and Employment on the Improving business-to-business payment practices in New Zealand Discussion Paper on 15 May 2020.

At the outset, we consider that this consultation is particularly important to New Zealand businesses and have encouraged the Ministry to consider delaying the implementation of any regime until the proposals can be more thoroughly considered by all affected stakeholders given the current COVID-19 landscape.

Given the significant upheaval in the economy at present (and for the short term at least), there is no appetite among businesses for additional compliance burden. We do not consider that now is the appropriate time for introducing new rules, particularly ones that will have such a direct impact (positive or negative) on cash flows.

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