Penalty slashes sales-tax debt
PA Napier The introduction of a penalty payment system had dramatically reduced the country’s sales-tax debt, according to the Minister of Customs, Mr Allen.
Mr Allen’s opening address at the conference of the New Zealand Society of Customs Agents was read in his absence by the speaker of the House of Representatives (and member of Parliament for Hawke’s Bay) Sir Richard Harrison. Mr Allen said that one of the Government’s main revenue components was sales tax.
For the 10 months ended January 1984, $lOOO million was collected, an increase of nearly 9 per cent over the same period last year. In the 1982 Budget, the penalty provisions were replaced with effect from January 1, 1983, by a new penalty of 10 per cent, increasing cumulative by 2 per cent each successive month that the tax was unpaid. In February 1983 the total sales-tax debt stood at $47 million. “It now stands 12 months later at $7.5 million, a considerable improvement,” Mr Allen’s speech said.
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Press, 9 March 1984, Page 3
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168Penalty slashes sales-tax debt Press, 9 March 1984, Page 3
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