Latest news with #IR
1News
10 hours ago
- Business
- 1News
Inland Revenue outlines focus after Budget funding boost
Inland Revenue (IR) will intensify its tax compliance and collection efforts following a significant funding boost in Budget 2025, with expectations of strong returns on investment. The Government had allocated new additional permanent funding of $35 million a year for Inland Revenue and also continued funding of $26.5 million a year from Budget 2022 that was due to run out in June. 'Along with the $29 million per year that was allocated in Budget 24, this is a significant funding boost and is recognition of what we do and the excellent results we've had so far this year,' Inland Revenue commissioner Peter Mersi said. Mersi said the increased funding meant the majority of taxpayers who met their obligations could continue to be confident IR would find those who were not. He said IR was expected to return $4 for every dollar invested in the first year and $8 for every dollar from the second year. ADVERTISEMENT Cold coming, PM's press secretary scandal, science of sleep (Source: 1News) "This is in addition to increasing the return from last year's compliance funding boost by $8 from July 1. 'While we do that, IR also must maintain its base level of tax collection and debt reduction." The increased funding would be invested into new activities, Mersi said. These would include further increasing audits and debt collection in high risk/value areas, investigations into specific sectors such as property, organised crime, the hidden economy and trusts, as well as the improved use of data and intelligence to speed up the identification and targeting of discrepancies and pursuing debt. The process of collecting data from third parties such as banks would shift to an automated process from a manual approach, while more targeted compliance activity measures would be investigated. Additional staff would be hired for this work and systems and technology would be used in more effective ways, Mersi said. ADVERTISEMENT Increase investment will 'accelerate returns' - Watts Revenue Minister Simon Watts. (Source: Q+A/Irra Lee) On the increased funding in the Budget, Revenue Minister Simon Watts said hard-working Kiwis who paid their taxes were "being ripped off by tax cheats who deliberately evade their obligations". "New Zealand's tax debt rose to $8.5 billion by the end of 2024. At a time when the Government is carefully managing every dollar to fund the essential frontline services Kiwis rely on, it's essential we crack down on those who are not paying their share of tax." Watts said the increased investment would accelerate returns already being seen from the compliance funding in last year's Budget. "In the year to March 2025, Inland Revenue collected almost $3 billion of overdue debt and is on track to collect more than $4 billion by June 30."
Yahoo
18 hours ago
- Business
- Yahoo
Water Tower Research (WTR) Adds Paul Meeks as Managing Director
Water Tower Research LLC ( is modernizing IR with a powerfully differentiated ecosystem of investor relations services, research-driven content and communications, and investor engagement. Water Tower Research is pleased to announce that Paul Meeks has joined the firm as Managing Director. St. Petersburg, FL, June 04, 2025 (GLOBE NEWSWIRE) -- Water Tower Research LLC ( is modernizing IR with a powerfully differentiated ecosystem of investor relations services, research-driven content and communications, and investor engagement. Water Tower Research is pleased to announce that Paul Meeks has joined the firm as Managing Director. Shawn Severson, WTR CEO and Co-Founder, said, 'We are pleased to welcome Paul to Water Tower Research as the newest member of our expanding Technology Team. Paul brings deep expertise in investment management and a distinguished track record of insight into the technology sector. His perspective will further strengthen our already outstanding team, joining Dr. John Roy and Kunal Madhukar in delivering industry-leading research and thought leadership. As we continue to grow our coverage across dynamic and innovative technology companies, Paul's contributions will be instrumental in broadening our reach and delivering even greater value to investors. At Water Tower Research, our mission is to democratize access to high-quality equity research—helping all investors uncover new opportunities and understand the key trends, companies, and catalysts shaping the future of tech.' Paul Meeks is a Managing Director on the Technology team at Water Tower Research. He brings more than 30 years of buy-side experience to WTR as an institutional investment analyst, portfolio manager, research director, and chief investment officer. Paul is widely recognized for having launched and managed $8 billion in technology funds for Merrill Lynch Investment Managers, among the largest technology-focused funds during the dot-com era. The fund was acquired by BlackRock in 2006. He has also held management positions with Jurika and Voyles, NMH Advisors, and Saturna Capital. Paul started his career at Trinity Investment Management in Boston. He currently holds management positions with Harvest Portfolio Management and 17 Asset Management. Paul is also a well-respected commentator and recognized technology expert. He has appeared weekly on air in the business media to 'talk tech' since 1995 and is recognized as CNBC's 'Tech Guru'. Paul also hosts 'Tech Tune-Up with Paul Meeks' each week on Benzinga's YouTube channel. Over the last 20 years, Paul has also served as an adjunct or full-time professor of finance and accounting at three universities, most recently at The Citadel's Baker School of Business where he raised $2 million for and was faculty advisor to the Student Managed Investment Fund. Paul earned bachelor's degrees in history and political science from Williams College and holds an MM (MBA) from the Kellogg School of Management, Northwestern University. He is a CFA charterholder and a Chartered Alternative Investment Analyst (CAIA). About Water Tower Research Water Tower Research is modernizing Investor Relations through research-driven communications and Investor Engagement. Sound investment research begins with good information. At WTR, we help companies and investors connect by creating expert information flow and strategies that are the foundation of a successful modern investor relations platform. Our analysts and capital markets professionals bring decades of unrivaled Wall Street experience and insight to a new digital world of investor communications and engagement. Our research and investor content is distributed across traditional research aggregators like Bloomberg, FactSet, etc., proprietary direct distribution lists, social media, search engines, and our website. As a result, every institutional and retail investor has equal access to our high-quality company research. Our mission is to help companies take control of their IR program and proactively reach investors while bringing investors a consistent flow of quality information to help them understand our clients' businesses, industries, and the investment opportunities they present. CONTACT: Name: Water Tower Research LLC Email: research@ Job Title: WTR Investor EngagementError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
a day ago
- Business
- Business Wire
Credo to Present at 2025 Mizuho Technology Conference
SAN JOSE, Calif.--(BUSINESS WIRE)--Credo Technology Group Holding Ltd (Credo) (NASDAQ: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved reliability and energy efficiency, today announced that Bill Brennan, President and CEO, and Dan Fleming, CFO, are scheduled to present at the following upcoming investor conference. Conference: 2025 Mizuho Technology Conference Time: 1:20 p.m. ET Location: New York City, New York The presentation will be webcast live on Credo's IR website at The webcast replay will be available as soon as possible following the event on Credo's IR website. About Credo Credo's mission is to advance high-speed connectivity solutions that deliver optimized performance, reliability, energy efficiency, and security for the next generation of AI driven applications, cloud computing, and hyperscale networks. Optimized for both optical and electrical applications, our solutions support port speeds up to 1.6Tb. At the core of our technology is our proprietary Serializer/Deserializer (SerDes) IP. Our diverse solutions portfolio includes system-level products such as Active Electrical Cables (AECs), a range of Integrated Circuits, including Retimers, Optical DSPs, SerDes chiplets, and SerDes IP Licensing. For more information, please visit Follow Credo on LinkedIn.
Scoop
a day ago
- Business
- Scoop
Extra Funding To Support More Compliance Work
Press Release – Inland Revenue Along with the $29 million per year that was allocated in Budget 24, this is a significant funding boost and is recognition of what we do and the excellent results weve had so far this year,the Commissioner of Inland Revenue, Peter Mersi, … Inland Revenue (IR) has outlined how it will use increased funding in this year's budget to boost collection activities and invest more in tax compliance. Additional funding The Commissioner of Inland Revenue, Peter Mersi, says increased funding in this year's budget means the great majority of New Zealand taxpayers who meet their obligations can continue to be confident IR will find those who aren't. 'Budget 2025 also provides new additional permanent funding of $35 million per year for Inland Revenue to invest more in tax compliance and collection activities. 'Along with the $29 million per year that was allocated in Budget 24, this is a significant funding boost and is recognition of what we do and the excellent results we've had so far this year,' Peter Mersi says. 'In addition, the Government has agreed to continue $26.5m of funding that was set to end this year, and importantly, made it on-going. This means we can continue with a range of compliance and debt work, including around the Small Business Cashflow Scheme loans which are in default.' Return on Investment Peter Mersi says 'just like last year, IR is expected to return an additional $4 for every dollar invested in year 1, and $8 dollars from year 2. This is in addition to increasing the return from last year's compliance funding boost by $8 from 1 July. 'While we do that, IR also must maintain its base level of tax collection and debt reduction.' Plans for the funding Inland Revenue will use the additional funding to focus on new activities around things like: • further increasing audits and debt collection in areas of high risk and/or value • investigations into specific sectors such as property, organised crime, the hidden economy and trusts • improved use of data and intelligence to more quickly identify and target discrepancies and pursue debt • shifting from a manual to an automated process to collect data from third parties, such as banks. • investigating more targeted compliance activity measures. Inland Revenue will take on additional staff to deliver this work, as well as using our systems and technology in more effective ways. Third quarter result highlights • This year to 31 March 2025, we have assessed additional tax of $880.8 million from audit activity • The total number of IR-initiated liquidations this quarter (134) is 67.5% higher than the same quarter last year. • Our debt collection activities continue to result in increased cash collection, with $2,985 million collected in the year to date compared to $2,688 million for the same period last year. • The number of prosecutions initiated during this quarter has more than doubled. • Overseas-based student loan repayments increased by 43.9% compared to the same period last year. • Child support debt (as at 31 March 2025) is $930 million, 10% lower when compared to the same period last year.
Scoop
a day ago
- Business
- Scoop
Extra Funding To Support More Compliance Work
Inland Revenue (IR) has outlined how it will use increased funding in this year's budget to boost collection activities and invest more in tax compliance. Additional funding The Commissioner of Inland Revenue, Peter Mersi, says increased funding in this year's budget means the great majority of New Zealand taxpayers who meet their obligations can continue to be confident IR will find those who aren't. 'Budget 2025 also provides new additional permanent funding of $35 million per year for Inland Revenue to invest more in tax compliance and collection activities. 'Along with the $29 million per year that was allocated in Budget 24, this is a significant funding boost and is recognition of what we do and the excellent results we've had so far this year,' Peter Mersi says. 'In addition, the Government has agreed to continue $26.5m of funding that was set to end this year, and importantly, made it on-going. This means we can continue with a range of compliance and debt work, including around the Small Business Cashflow Scheme loans which are in default.' Peter Mersi says 'just like last year, IR is expected to return an additional $4 for every dollar invested in year 1, and $8 dollars from year 2. This is in addition to increasing the return from last year's compliance funding boost by $8 from 1 July. 'While we do that, IR also must maintain its base level of tax collection and debt reduction." Plans for the funding Inland Revenue will use the additional funding to focus on new activities around things like: • further increasing audits and debt collection in areas of high risk and/or value • investigations into specific sectors such as property, organised crime, the hidden economy and trusts • improved use of data and intelligence to more quickly identify and target discrepancies and pursue debt • shifting from a manual to an automated process to collect data from third parties, such as banks. • investigating more targeted compliance activity measures. Inland Revenue will take on additional staff to deliver this work, as well as using our systems and technology in more effective ways. Third quarter result highlights • This year to 31 March 2025, we have assessed additional tax of $880.8 million from audit activity • The total number of IR-initiated liquidations this quarter (134) is 67.5% higher than the same quarter last year. • Our debt collection activities continue to result in increased cash collection, with $2,985 million collected in the year to date compared to $2,688 million for the same period last year. • The number of prosecutions initiated during this quarter has more than doubled. • Overseas-based student loan repayments increased by 43.9% compared to the same period last year. • Child support debt (as at 31 March 2025) is $930 million, 10% lower when compared to the same period last year.
