The impetus is Inland Revenue’s “Business Transformation” project. This is an opportunity to ensure Inland Revenue’s processes, and the tax policy framework are fit for purpose but also capable of meeting future demands.
The key themes of the conference included:
- Technology will enable Inland Revenue to collect more information in real time, which can then be used to more accurately determine your tax liability.
- Technology also allows taxpayers to connect more easily to the tax system, but care is needed to ensure that those less comfortable are not left behind.
- Moving Inland Revenue’s focus from tax returns to managing data will provide opportunities for better targeted and more systematic audits and enforcement.
- Enforcement needs to be coupled with greater taxpayer education and simplification. Withholding taxes will be increasingly important in ensuring compliance.
- Inland Revenue’s social policy delivery role provides both opportunities and challenges for reform.
- Tax policy is important, and the system needs to be adaptable to future changes to these settings.