The Institute of Chartered Accountants says there is still uncertainty surrounding tax avoidance cases following the settlement of a tax dispute between banks and the Government.
The four main trading banks: BNZ, Westpac, ASB Bank and ANZ National will pay in total more than $2.2 billion in back taxes and interest.
Earlier this year, two High Court rulings found BNZ and Westpac liable for using structured finance transactions from 1998 - 2002 to avoid paying tax.
ICA tax director Craig Macalister says it's good news for the banks and taxpayers.
But he says a more definitive tax ruling from higher courts would have been helpful.
He says the law on tax avoidance "is like trying to follow the Wellington rugby team - you never know which way it's going next".
Mr Macalister says some clarity is needed.
As part of the agreement, the banks will repay about 80% of what they owed in tax and interest.
ANZ National is still disputing one transaction, which it says involves $27 million in tax.
The payments will end any legal action.
