Inland Revenue Department
NZBA welcomes the opportunity to provide feedback to the Inland Revenue Department (IRD) on the officials’ issues paper: Implementing the global standard on automatic exchange of information (Issues Paper) which seeks feedback on how New Zealand might best implement the Common Reporting Standard (CRS).
NZBA and its members understand and support the commitment that New Zealand has made to global initiatives for greater tax transparency. We also appreciate the steps taken by IRD to provide consultation opportunities regarding the framework implementation and ongoing consideration to minimise compliance costs for affected Reporting Financial Institutions (RFIs) to the extent it does not undermine the policy intent.