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Inland Revenue says more businesses are getting behind on GST payments, and it's urging business owners to seek help early if they're struggling.
In the eight months to March, total outstanding debt to the IRD increased by one percent to $4.441 billion, not including student loans or child support.
Most of the debt is outstanding GST payments. The government passed special legislation allowing Inland Revenue to write off some debts for businesses affected by Covid, mainly late payment penalties and use-of-money interest and so far more than $242 million has been written off.
Kathryn speaks with Richard Philp, IR’s spokesperson on outstanding tax debt.
