Good Books = Good Business
Just a quick heads up that IRD will be contacting everyone in hospitality industry to thank you if you’ve been keeping your books in order.
As you know, helping you keep your books in good order assists with your tax obligations and provides you a more accurate view of cash flow, allows greater access to finances and ensures you businesses are correctly valued.
The IRD will also be encouraging you to put your records right if you’ve left anything off your past tax returns.
The IRD may also visit you in the hospitality industry. They want to ensure hospitality business owners know how to show transactions through electronic trading and mobile payment apps.