A subsidiary of Allied Farmers has been served with a liquidation notice from Inland Revenue for $4.2 million.

IRD has this morning obtained freezing orders over property in a company directed by Paul Webb, a former Dragon's Den judge.

Two-thirds of the way through the Government's financial year tax revenue is running 6.3 per cent above the same period last year, while spending is flat.

The Government might reconsider plans to tax employers on inner-city carparks they provide to employees if it finds the additional costs on businesses would outweigh the revenue raised, Finance Minister Bill English said yesterday.

The debate around the level of tax paid by multinational corporations, and where they pay them, has morphed into a drama involving protagonists.

Draft legislation aimed at introducing fringe benefit taxes on staff carparks is broader than expected and contains some "nasty fish hooks to look out for".

New Zealand is going to find it increasingly difficult to tax multinational companies like Google and Facebook, says a specialist tax consultant.

Facebook's "tiny" and "barely believable" tax bill this year makes a mockery of New Zealand's tax loopholes for multinationals, says the Labour Party.

The Law Commission wants to crack down on the "injustice" that allows the use of trusts to protect property during disputes.

An Auckland accountant has been struck off and ordered to pay more than $31,000 after he used 60 clients to get tax rebates on donations for his own benefit.

NZ's highest earners have paid less tax overall since 2001 tax changes that raised the top personal income tax rate.