Welcome to Tax Watch

Edition 1: 2014

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Welcome to the first edition of Tax Watch for 2014.

Accommodation and employee allowance update

Accommodation benefits are about to undergo a reshuffle. The proposed tax exemption will be welcomed by employers, who have endured years of uncertainty. In our first article in Tax Watch we outline what the change will mean for you.

Transfer pricing authorities embrace cooperation

The OECD’s latest Transfer Pricing proposals will have significant impact on transfer pricing documentation requirements. We examine the masterfile concept that aims to give a complete picture of the global business operations of the company. We expect most tax authorities to endorse the OECD’s recommendations, which carry costs and risks to be aware of.

In other transfer pricing developments, we bring your attention to the ATO’s draft tax determination on market support payments.

Five global trends in indirect tax

It's no secret that tax authorities are promoting shifts to indirect taxes to help promote economic growth. We summarise five global trends occurring in indirect tax and their implications for New Zealand. Is your strategy focussing in the right areas?

Are you meeting immigration requirements?

Immigration is a source of stress for employers and an amendment bill will further tighten the screws. With a bit of effort to understand the requirements, you can avoid a headache longer term. Find out more here.

Sin taxes

Sinning and taxing are two permanently entwined conditions of humanity. Taxpayers should not be lulled into thinking we have plateaued in New Zealand on sin taxes – there are developments worth taking note of, covered in our final article.

Beanie excitement

We look at the significant accounting changes, what do these mean for you, and will this make any difference to your day or pay? Find out more.

Round-up of tax developments

Tax Watch in Brief in this newsletter covers IRD’s latest releases, and rounds up various developments in tax you need to be aware of. We hope there’s something of interest here for all our readers.

Kind regards

EY Tax Team