IRD News

Statement on Paradise Papers

Posted 06 November 2017

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Inland Revenue is aware of the release of papers related to the Bermudan law firm Appleby and is working closely with relevant agencies and our international treaty partners.

International Revenue Strategy Manager John Nash says we are interested in hearing from any New Zealand taxpayer with exposure to Appleby.

“We have a strong focus on international tax compliance by New Zealand taxpayers. It would be prudent for anyone involved to come forward and explain their position to us so we can assess whether the correct amount of tax has been applied.

“We will examine any intelligence we receive about New Zealand taxpayers and check whether it aligns with their previous tax return positions and disclosures.”

The Joint International Taskforce on Shared Intelligence and Collaboration (JITSIC), of which New Zealand is a member, is already responding to the Appleby data using the same methods it applied last year to assess the information from the Panama Papers.

Mr Nash says there’s a great deal of experience within that forum to respond to such data releases in a fast, effective and coordinated way.

“JITSIC allows us to share intelligence and pool resources to quickly develop a more accurate picture of what the data is telling us than we would be able to achieve on our own.”

Tax secrecy rules prevent Inland Revenue from publicly discussing the affairs of any taxpayer revealed in the data.

Media contact: Baden Campbell 029 8901674