The Resource Social justice and New Zealand tax debt insolvencies

Social justice and New Zealand tax debt insolvencies

Label
Social justice and New Zealand tax debt insolvencies
Title
Social justice and New Zealand tax debt insolvencies
Creator
Subject
Language
eng
Summary
This article uses a social justice lens to examine insolvencies resulting from tax debt in New Zealand. The article is empirical and theoretical. Evidence is presented on New Zealand's insolvency practice. The extent to which just outcomes arise from New Zealand's approach to insolvency resulting from unpaid tax obligations can be analysed by using distributional and procedural justice frameworks. Changes announced in the 2018 UK Budget that will result in HMRC receiving preferential creditor status for some tax debt help inform the article. Analysis of insolvencies in New Zealand shows that external factors are the primary drivers of individual insolvencies, while the primary causes of company insolvencies are internal factors. Current approaches to insolvency privilege economic claims above moral claims. The author argues, with reference to social justice principles, that just outcomes require different approaches to insolvencies generated by different causes. In addition, reference to distributional and procedural justice indicates that vulnerable creditors should receive preferential treatment in the insolvency process when compared to larger, more powerful creditors, such as a tax authority, which will have greater risk diversification and is affected less by information asymmetry
Citation source
In: British tax review. - London. - (2019), no. 1 ; p. 77-100
http://library.link/vocab/creatorName
Marriott, L
Geographic coverage
  • Pacific Islands
  • Latin America
Language note
English
http://library.link/vocab/subjectName
  • insolvency
  • bankruptcy
  • tax liability
  • procedural law
  • redistribution principle
  • fiscal sociology
Label
Social justice and New Zealand tax debt insolvencies
Instantiates
Publication
Label
Social justice and New Zealand tax debt insolvencies
Publication

Library Locations

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