New Zealand Inland Revenue updated the UOMI Rates on 28 May 2025. Underpayment rates drop to 9.89% (from 10.88%), and overpayment rates decrease to 3.27% (from 4.30%).
The New Zealand Inland Revenue has published the revised Taxation (Use of Money Interest Rates) Amendment Regulations 2025 on 28 May 2025.
Use of Money Interest (UOMI) is the interest that the tax authorities apply when taxes or duties are overpaid or underpaid. Overpayments earn interest, while underpayments incur interest and may result in penalties.
The update announces revised use of money interest (UOMI) rates for underpayments and overpayments, effective 8 May 2025.
The rate for underpayments will be reduced to 9.89% (previously 10.88%), while the rate for overpayments will decrease to 3.27% (previously 4.30%).
These adjustments replace the rates in effect since 16 January 2025.
Earlier, the New Zealand Inland Revenue announced new UOMI rates for underpayments and overpayments on 18 December 2024.
