Taxation in New Zealand
It is normal for citizens to pay tax since it is a primary source of revenue for the government. However, other citizens fail to file for tax payment hence lack of transparency. According to an article published on November 9th, 2012, lawyer Geoffrey Cone explains the transparency of taxation in New Zealand. Through the media coverage, tax in New Zealand is portrayed as transparent and accessible although it is a complicated process.
Geoffrey explains that New Zealand is not a tax haven. Talking of tax havens, such dockets do not impose any tax in addition to the lack of transparency. In most tax havens, the government together with the law withhold vital tax information. New Zealand; therefore, does not qualify as a tax haven as it does not house a secretive banking industry to horde information.
According to the OECD Model law on Exchange of Tax Information, the level of clarity on tax supports the international exchange of information for law administration. New Zealand ranked top in the countries marked by OCED. Having implemented the internationally agreed tax standard, New Zealand has demonstrated exemplary leadership. The state handles foreign trusts and trustees requirements transparently. The collected information is channeled to various governments that need relevant tax information.
After extensive research in 2006, Michael Cullen introduced new tax rules. The rules stated that a resident trustee from New Zealand is required to submit the Foreign Trust Disclosure form known as IR607 to the IRD. Another rule indicated that the foreigners must file financial records in addition to other vital records for taxation. These are the critical documents required for filing by the New Zealand Tax Department:
- Trust Deed
- Settlement and distribution details
- Details of assets and liabilities
- Money received
- Money spent
- Accounting information
According to the tax department, all records must be stored in New Zealand and recorded in English. All rules must be observed without which, a trustee is subjected to weight penalties. The world standard money laundering legislation enacted the law in 2011, and up to date, it is observed. New Zealand has approximately 39 tax laws contracted to reduce tax impediments. The tax agreements assist in the prevention of tax avoidance in addition to fraud.
About Geoffrey Cone
Mr. Cone is a tax advisor and owner of Cone Marshall Limited, the only New Zealand firm that specializes in foreign trust and tax planning. Geoffrey graduated with LLB honors from the University of Otago in New Zealand. He established Cone Marshall in 1999 after extensive research on tax evasion, tax avoidance, and transparency. Cone Marshall provides trustee and trust management through its affiliates.
Last July, Danilo Diaz Granados, the co-founder of TOYS for BOYS, hosted an upscale event for a hand-selected group of Miami residents that took place on land, air, and sea. Granados is a veteran at hosting exclusive, extravagant excursions like this. He approaches these events with the philosophy of creating a unique and extraordinary experience for his affluent guests.
The Toy for Boys’ grand day kicked off with a breakfast at the One Thousand Museum’s sales center. The late Dame Zaha Hadid designed the spectacular high-rise residential condominium in Miami’s upscale Biscayne area. After the intimate breakfast, guests went for a private tour of the highly-anticipated architectural wonder. Next, Granados accompanied the guests on a helicopter ride to Palm Beach Race Track.
At the track, each guest was treated to take a race car out for a spin. After the adrenaline rush of speeding on the track, they flew back to Miami to enjoy a Dom Perignon sponsored lunch at the River Yacht Club on the Miami river. The event was wrapped up with a sunset boat ride on the bay. Besides Dom Perignon and One Thousand Museum, the other sponsors for this great event were Air Commander Aerospace, Technomar, Van Dutch Americas, and Gryphon Racing.
About Danilo Diaz Granados
Danilo Diaz Granados is an experienced service professional and an entrepreneur. Since 2015, he is an associate at Fireman Capital Partners. Granados is an alumnus of Babson College in Wellesley, Massachusetts. He earned his degree in Economics and Entrepreneurship and started his career in South Florida. As an entrepreneur, CrunchBase also indicates that he is the co-founder of the film company Edge of Glory and the luxury boutique Toys For Boys. With both his companies, Granados concentrates on Latino interests in Florida.
According to Crunchbase, Kenneth Goodgame is a well respected figure in the marketing circles across the country. His mastery of the sales and marketing industry has earned him the title of the Merchandising Concepts Expert gauging from his continued success and ability to transform almost every brand that he lays his hands on to profitability. Kenneth has three decades of experience in various industries from where he gained invaluable experience and mastery of consumer preferences.
Kenneth is the current Senior Vice President and Chief Merchandising Officer for Chicago-based True Value Hardware Corporation. Some of his biggest achievement with the corporation so far include turning around the low-performance buying team and replacing it with a zealous team in addition to carrying out radical reforms with the company’s line review’s thus improving its savings tenfold in his first year of assuming the merchandising department and category management.
How previous experience prepared Kenneth for his current role?
Before t joining the True value marketing team, Kenneth had worked at the management level of various other companies with a national and global outlook. While serving at these companies, Kenneth implemented transformative sales and marketing models that helped them turn around their profits in addition to making, even more, sales.
For instance, he helped Techtronic Industries North America launch an entirely new retail division, the Direct Tools Factory Outlets while serving as the president of its Subsidiary Baja Motorsports. He also helped them open up 30 stores spread across the country with each averaging $1 million in annual sales.
Additionally, while working as the senior vice president marketing with the Huntersville-based Newell Rubbermaid, he helped the company expand its net worth to over $490 million in less than 18 months. He also led a new product development campaign while restructuring the company’s global manufacturing footprint by introducing low const sourcing.
Far from his flourishing career and current role at True Value, Kenneth Goodgame is also an influential public speaker in the United States.
Just recently, he started the growth hacker’s platform through which sales and marketing professionals across the industry can share and brainstorm on valuable growth tips for their respective industries.
Learn more about Kenneth Goodgame: http://xrepublic.net/2016/09/21/the-marketing-expert-kenneth-goodgame/