New Zealand Tax Office Puts Record Number of Companies Into Liquidation

Liquidations are up despite positive lending trends and reduced interest rates, as more companies are now being sent to the wall by the tax office.

A sign on a shop window indicates the store is closed. The Canadian Press/Adrian Wyld

Liquidations of New Zealand companies have increased significantly, despite positive lending trends and eased interest rates.

The latest Centrix Credit Indicator shows a year-on-year rise of 26 percent, driven by increased enforcement activity by the Inland Revenue Department (IRD).