The tax man could be about to crack down on the way non-resident investors pay their New Zealand taxes.

Inland Revenue's released a paper proposing the removal of some existing exemptions on non-resident withholding tax.

It also suggests allowing New Zealand banks to greater access to information on interest payments to non-resident associates.

Revenue Minister Todd McClaysays the intention is to ensure non-resident investors are paying the appropriate amount of tax and to cut the ability of people to shift profits out of the country while paying minimal tax.