Under New Zealand’s comprehensive system of taxation penalties, a tax shortfall can have very serious financial consequences for a taxpayer. Taxpayers and their advisers must be aware of the obligations imposed on them, the penalties that can apply when those obligations are not met and what can be done to mitigate penalties.

A Practical Guide to Tax Penalties in New Zealand is an invaluable resource for all persons involved with taxation, whether as tax practitioners, tertiary lecturers or university students.

Topics covered include:

• “no-fault” civil penalties
• standard-based civil penalties
• criminal tax offences and penalties
• use-of-money interest
• Inland Revenue statements on penalties and interest
• liabilities for tax advisers
• former penalties rules.