In 2021 and 2022 Inland Revenue conducted targeted campaigns aimed at elevating the importance of tax governance within businesses.
The expectation is that organisations will have documented their tax risk management frameworks and tax policies and procedures, with regular testing of tax controls and reporting to the Board (or equivalent) on material tax risks.
In the webinar below we had the privilege of listening to John Nash, Strategic Advisor from Inland Revenue share his insights on the outcomes of the 2021 campaigns, key learnings, and the Department's focus and expectations for the future. Darshana Elwela, KPMG Tax Partner provided advice from an advisory standpoint, shedding light on what tax and finance teams and directors should consider while developing a tax governance framework and creating tax controls. Lastly, Peter Scott, KPMG Tax Partner updated us on the latest developments regarding GST.
