Businesses in New Zealand must follow certain tax laws. We also discuss some of these in Government: Paying Tax. We recommend, if you have not already done so, that you read the outline of the taxation system provided in Government: Paying Tax before proceeding with this section.
There are a number of taxes that businesses will or may be involved with. For all of these taxes your business will need to:
- have an Inland Revenue (IRD) number
- complete and send various tax return forms to Inland Revenue each year
- make a number of tax payments each year
- keep sufficient records, in English, so you can complete the various tax returns and calculate any taxes to pay or to be refunded to you
You may also need to:
- charge Goods and Services Tax (GST) to your business's customers
- deduct tax from anyone your business employes in New Zealand
