The Inland Revenue Department (IRD) has identified $539.8 million missing through tax avoidance by businesses this year so far.
That increase is over four times the amount business tax avoidance cost New Zealand in 2009 at $123 million.
The missing money was identified through discrepancies found through tax payments.
An IRD spokesperson said the increase reflected the budgets the IRD was given to chase tax avoidance and did not illustrate an increase in the crime itself.
Economic crime is costing New Zealand up to $9.4 billion a year according to a draft Serious Fraud Office report obtained by Radio New Zealand. The report was never released. Audio
World leaders are gathering in Brisbane for this weekend's G20 Summit, which will focus on economic growth. Tensions with Russia are expected to draw attention. Video
Finance Minister Bill English is confident the world's largest economies will take action to stop multi-national companies avoiding paying their fair share of tax.
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