Inland Revenue says new measures to ensure large multinationals pay the right tax in New Zealand are working well and should mean an extra $200m in tax collected each year.

Inland Revenue compliance staff have searched several Central Otago businesses and made unannounced visits to others, as part of its current hidden economy campaign targeting the hospitality sector.

Inland Revenue is introducing a new way for customers to get certainty on how tax law applies to their situation.

An Oamaru accountant is an enthusiastic advocate of Inland Revenue’s new provisional tax option, the Accounting Income Method (AIM).

Customers have logged into the new myIR more than two million times since one of the largest data migrations undertaken by a New Zealand government agency.

Inland Revenue is reminding customers it will no longer accept cheques from 1 March.

Inland Revenue compliance staff have searched several Central Otago businesses and made unannounced visits to others, as part of its current hidden economy campaign targeting the hospitality sector.

Inland Revenue is reminding landlords they can no longer offset residential property deductions against their other income.

Inland Revenue says automatic exchange of information with other tax jurisdictions around the world is proving a potent tool in the fight against tax evasion.

Inland Revenue says new measures to ensure large multinationals pay the right tax in New Zealand are working well and should mean an extra $200m in tax collected each year.

A co-owner of the Masala Restaurant chain has been jailed for hiding millions of dollars in cash sales and laundering large amounts of it.

Tax crime happens when people cheat the tax system through deliberate and dishonest behaviour with the aim of obtaining financial benefit.

An Auckland man, who a judge says used Inland Revenue as a bank to prop up failing businesses, has been sent to prison for nearly five years.