providing greater access to tax detrimental for voluntary Potentially positive as a result debt information. compliance and integrity of of there being an additional the system. incentive to repay debt. 4. information on Met Met Met Potentially positive serious offences with Registrar of Companies Fairness is achievable with This option is expected to be Seriously non-compliant Compliant businesses will be strict tests and high thresholds implemented at a low directors are likely to also be less subject to harm from for sharing. It is also in the administration cost. This posing a risk to the tax habitually non-compliant public interest to achieve option would only involve a system. businesses and directors. efficient enforcement of small number of information criminal director offences shares; however it is likely rather than allow these that successful enforcement of directors to continue to pose a serious Companies Act risk to the compliant business provisions would reduce harm community. to a larger population of businesses. 5. Share information for Not met Not met Not met Potentially positive enforcement of wider business obligations Sharing information for issues This option would have a high There is a risk of unjustified Compliant businesses will be that are less significant than administrative cost if breaches of tax secrecy less subject to harm from serious offences may not comprehensively principles, which could lead habitually non-compliant justify exceptions to tax implemented. to decreased voluntary businesses and directors. secrecy. compliance.
providing greater access to tax debt information. detrimental for voluntary compliance and integrity of the system. Potentially positive as a result of there being an additional incentive to repay debt. 4. information on serious offences with Registrar of Companies Met Fairness is achievable with strict tests and high thresholds for sharing. It is also in the public interest to achieve efficient enforcement of criminal director offences rather than allow these directors to continue to pose a risk to the compliant business community. Met This option is expected to be implemented at a low administration cost. This option would only involve a small number of information shares; however it is likely that successful enforcement of serious Companies Act provisions would reduce harm to a larger population of businesses. Met Seriously non-compliant directors are likely to also be posing a risk to the tax system. Potentially positive Compliant businesses will be less subject to harm from habitually non-compliant businesses and directors. 5. Share information for enforcement of wider business obligations Not met Sharing information for issues that are less significant than serious offences may not justify exceptions to tax secrecy. Not met This option would have a high administrative cost if comprehensively implemented. Not met There is a risk of unjustified breaches of tax secrecy principles, which could lead to decreased voluntary compliance. Potentially positive Compliant businesses will be less subject to harm from habitually non-compliant businesses and directors.