New Zealand Law Society - Report on tax secrecy review tabled

Report on tax secrecy review tabled

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A report by the Inland Revenue Department into targeted consultation on section 81BA of the Tax Administration Act 1994 has been tabled in Parliament.

Section 81BA was introduced in August 2011 as an exception to the secrecy rules to make the disclosure of information from the Inland Revenue Department to other government agencies more flexible.

The aim was to increase administrative efficiency by adding flexibility to the release of information, and to improve the provision of services by reducing the need for individuals to provide complex and duplicated information to multiple agencies.

The provision contains a requirement that it be reviewed after five years of enactment (29 August 2016) and before the expiry of six years (29 August 2017). A review has now been undertaken with key stakeholders (Office of the Privacy Commissioner, Ministry of Social Development, Accident Compensation Corporation, Ministry of Justice, and The Treasury).

The report discusses the findings and recommends retaining the section pending a wider review of the Tax Administration Act.