Creating greater efficiency in Goods and Services Tax (GST)

This study aims to investigate how to create better efficiency in GST for a small painting business in the Waikato by enlightening and exploring the context of GST in the economy. This study uses secondary research in which the information is sourced from databases, using academic journals, published articles and then further multiple search engines which include government websites for discussion papers, legislation, and books. Re-occurring themes linking to the topic of creating greater efficiency in GST were identified. These ften linked to the history and the future of GST. The themes were analysed further, leading to the conclusion that particular factors affect poor compliance and showing why compliance is important for GST registered businesses. The study recommends that in order to create better efficiency in GST at a small painting business in the Waikato, they should adopt the new government initiative that is aimed at reducing compliance costs and simplifying the way information is submitted. This will help to incorporate efficiency in GST into their administration, using their accounting software package. Further research into GST is recommended to keep the business up to date with compliance