Every New Zealand business, large or small, was significantly affected by the introduction of the Labour government enforced lockdowns as a response to the worldwide Covid-19 pandemic in March 2020.
Read more: INLAND REVENUE & OVERDUE TAXES
The fallout continues for many. Many businesses did not survive, and have already succumbed to either voluntary liquidation, or to Inland Revenue’s “full throttle” debt collection policy against deliberate or consistent taxpayer non-compliance.
With extra funding, IRD’s tough stance boosted their collection and compliance activities, i.e. an increase in investigations, audits and debt recovery processes such as bankruptcy and company liquidations. IRD initiated company…