3. Fit-for-purpose regulatory regimes
Overall, Inland Revenue believes that its revenue collection and social policy regulatory regimes are fit for purpose. We have made significant improvements by reducing the time it takes business to comply with our requirements. Across all of our regimes there is the potential to improve the clarity and intent of some rules. The highest priority improvements are reflected in the tax policy work programme and include remedial changes and the routine regulatory updates we manage.
Inland Revenue’s Business transformation programme is currently underway and reflects Inland Revenue’s acknowledgement that its processes and systems, and in some cases the legislation, limit its capability to meet the future requirements the Government may have of the tax system and the social policies Inland Revenue administers. Business transformation is about designing Inland Revenue’s services around the needs of the customer and reducing the costs of interacting with the tax and benefit system. The programme will improve the agility of Inland Revenue to develop and implement the regulatory changes required by Government.