TAX REVIEW Committee Told To Regard State Needs

Press, Volume CVI, Issue 31128, 3 August 1966, Page 3

TAX REVIEW Committee Told To Regard State Needs

(Neu) Zealand Prexs Association)

WELLINGTON, August 2.

The members and the terms of reference for the committee to review taxation in New Zealand were announced today.

The terms of reference include a review of rates, structures and incidence of the whole field of Government taxation—including direct and indirect taxes —and to report on any changes in taxation law or practice which appear to be desirable.

i The Minister of Finance : (Mr Lake) said it was expected the review would take : about a year—but he said the committee would be invited to submit Interim reports on any aspects which, in its view, required urgent consideration by the Government.

‘The terms of reference give broad scope to the committee, but they specify that it should have regard to the need to maintain an adequate level of total taxation revenue in relation to Government expenditure and to the requirements of economic growth and stability,” said Mr Lake. “The committee will be assisted by a full-time secretariat of officers seconded from the departments of Inland Revenue, Customs and Treasury. “Consideration will also be given to engaging one or more experts from overseas to assist as consultants.

The members are: Mr L. N. Ross, of Auckland (chairman), I

Dr. C. A. Blyth, of Canberra, and formerly of Wellington, Mr R. G. Stark (public accountant), of Invercargill, Mr N. B. Fippard (public account, ant), of Hastings, Mr L. M. Papps (solicitor), of Wellington, and Professor E. Stamp, [of Victoria University, Wellington. Mr Ross is a member of the council of the New Zealand Society of Accountants and was chairman of the committee appointed by the Government to examine P.A.Y.E. taxation in 1963. He is a director of the Bank of New Zealand.

Dr. Blyth was director of the Institute of Economic Research before his appointment as a fellow at the Australian National University. Mr Stark is a past-president of the New Zealand Society of Accountants and Mr Papps is a director of a number of leading New Zealand companies. Professor Stamp is a specialist in the field of company accounting and financial administration, and Mr Fippard is a well-known authority on farm accounting and a past-president of the New Zealand Society of Accountants. He is also a Government nominee on the Meat Board.