Fines for late tax returns
(N.Z Press Association) AUCKLAND, Dec. 1. A fine for failing to file an income tax return on time might have to be introduced next year if the percentage of late returns continued to increase, said the Minister of Finance (Mr Muldoon) tonight. Speaking at the Henderson Lions’ Club, Mr Muldoon said that at the beginning of this year, only 30 per cent of company tax returns for 1970 had been filed, “and returns for private persons were not much better.”
“This is totally unfair because the ordinary man pays his tax week by week while somewhere there is a group of companies and private individuals who are not paying tax because they haven’t filed a return.”
In Australia, there was provision for a fine for being late with a tax return, he said. However, New Zealand legislation provided fines only for late payment of tax.
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Press, Volume CXI, Issue 32779, 2 December 1971, Page 16
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150Fines for late tax returns Press, Volume CXI, Issue 32779, 2 December 1971, Page 16
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