- The Global Accounting Alliance Tax Directors Group is to visit New Zealand for the first time in early November
- The group will look at internationally unusual features of the country’s tax system
- The tax directors are from major accounting bodies
Members of the Global Accounting Alliance (GAA) Tax Directors Group – the voice of the international tax profession – are to visit New Zealand in early November, exploring internationally unusual features of the country's tax system.
Under the microscope will be options for tax pooling, the absence of a capital gains tax and the high degree of public and stakeholder involvement in tax policy development.
The group consists of tax directors from across the major accounting bodies from England and Wales, Ireland, Scotland, the United States, Canada, South Africa, Germany, Hong Kong, Japan, New Zealand and Australia. Michael Croker, CA ANZ's Australian Tax Leader is currently the group's Chair.
It is a first-time visit to New Zealand for the group which meets twice a year and each meeting is hosted by a group member. CA ANZ's New Zealand Tax Leader, John Cuthbertson is hosting the upcoming meeting.
"New Zealand's "somewhat unique collaborative and open approach to tax policy development" has captured the attention of the group."
The Tax Directors Group's 11 members share best practices, expertise and information and develop thought leadership on international tax matters in the public interest. They also act as a voice of the international tax profession on tax issues of global importance and in their home countries.
Cuthbertson said New Zealand's "somewhat unique collaborative and open approach to tax policy development" has captured the attention of the group.
"They will be wanting to gain first-hand experiences of our tax policy environment to see what can be learned and applied elsewhere."
The group will meet the Minister of Revenue, Stuart Nash; the Chair of the Finance and Expenditure Committee, Deborah Russell; the Commissioner of Inland Revenue, Naomi Ferguson; and officials from Inland Revenue and Treasury.
Cuthbertson said the group had also been closely following the developments of the Tax Working Group process.
"New Zealand has undertaken a large-scale review of our tax system approximately every 10 years, representing a valuable opportunity to consider the fairness and efficacy of the tax system as a whole.
"However, countries like Canada, have not had a significant review in nearly 50 years. These meetings are a great opportunity to share experiences and learnings about what has been successful in maintaining tax certainty, simplicity and ease of compliance."
The GAA group will be in New Zealand 6 to 8 November.