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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: BEPS Multilateral Instrument ratified
New Zealand has now ratified the OECD’s Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the “Multilateral Instrument”, or MLI), which is expected to enter into force for New Zealand from 1 October 2018.
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Bill introduced to modernise and simplify New Zealand’s tax system
The Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Bill was introduced in Parliament yesterday.
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: BEPS Bill passes third reading
The Taxation (Neutralising Base Erosion and Profit Shifting) Bill passed its third reading in the House last night. The Bill contains measures to prevent multinational companies from avoiding tax by shifting profits out of New Zealand. For more information see the Minister of Revenue’s media statement.
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Budget 2018
Finance Minister Grant Roberson’s 2018 Budget contains the following tax-related announcements:
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: BEPS bill reported back
The Taxation (Neutralising Base Erosion and Profit Shifting) Bill, introduced on 6 December 2017, was reported back to Parliament today. For more information see the bill as reported back and the officials’ report on submissions received on the bill.
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Issues paper about GST on assets sold by non-profit bodies released
An officials’ issues paper, GST on assets sold by non-profit bodies, released today sets out proposals to clarify the GST rules for the sale of assets by charities and other non-profit bodies.
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Four special reports on new tax legislation now available
Four special reports providing early information on new legislation in the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act enacted in March are now available.
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: GST on imported low-value goods proposals launched
The Government has today launched proposals for offshore suppliers of low-value goods to New Zealand consumers to collect and return GST on those goods. For more information see the Minister of Revenue and the Minister of Customs’ media statement, questions and answers, discussion document, fact sheet, and letter from the Tax Working Group. Submissions close on 29 June.
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: R&D tax incentive proposals announced
Research, Science and Innovation Minister Megan Woods and Revenue Minister Stuart Nash today launched public consultation on proposals for implementing a research and development tax incentive. The objective is to encourage businesses to invest more into research and development. The discussion document seeks public feedback on:
– which types of businesses, R&D activities and expenditure should be eligible;
– the minimum R&D expenditure threshold;
– the maximum cap on R&D expenditure; and
– accountability measures.
Consultation closes on 1 June.
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Tax bill enacted
The Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Bill was enacted on Thursday 29 March 2018. The new Act is now available on the New Zealand Legislation website.
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