New Zealand extends R&D tax incentive due dates

29 August, 2022

On 26 Aug 2022, New Zealand’s Inland Revenue (IR) issued research and development (R&D) tax incentive updates due to the ongoing COVID-19 pandemic. The IR provides details on R&D tax incentive extensions, changes to claiming supporting

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New Zealand: Inland Revenue seeks comments on loss carry-forward rules

01 August, 2022

On 21 July 2022, the New Zealand Inland Revenue published Interpretation Statement on tax loss carry-forward rules for Consultation. The consultation period is from 21 July 2022 to 1 September 2022. This interpretation statement provides guidance

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WTO: Trade Policy Review of New Zealand

01 June, 2022

On 1 and 3 June 2022 the WTO is carrying out a trade policy review of New Zealand. A report has been issued by the WTO Secretariat as a basis for the review. The report notes that New Zealand considers trade as very important for its prosperity.

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New Zealand: OECD Economic Survey for 2022 Recommends Tax Adjustments

04 February, 2022

On 31 January 2022 the OECD published the New Zealand Economic Survey 2022. The report notes that more consolidation measures are necessary to stabilise the fiscal position, and emphasises the need to increase productivity, increase the housing

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OECD: Peer review reports under BEPS Action 14

17 April, 2021

On 15 April 2021 the OECD released peer review assessments under Action 14 of the project on base erosion and profit shifting (BEPS) which aims to make dispute resolution mechanisms more effective. These stage two monitoring reports relate to

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New Zealand: Inland Revenue releases guidance on transfer pricing amid COVID-19

31 August, 2020

Recently, New Zealand’s Inland (IR) Revenue has released guidance regarding practice issues for transfer pricing due to the COVID-19 pandemic. The COVID-19 pandemic has created an impact on specific sectors and businesses substantially. The

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New Zealand increases individual tax write-off thresholds due to COVId-19

21 July, 2020

On 9 July 2020, New Zealand’s Inland Revenue (IR) has announced a temporary increase to the write-off threshold for individual taxpayers to help ease the financial stress caused by COVID-19. The threshold has been increased to NZD 200 from

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New Zealand announces temporary loss carry-back scheme in response to COVID-19

20 April, 2020

On 15 April 2020, New Zealand has announced a temporary loss carry-back scheme in response to COVID-19 to support customers in the current uncertain economic environment. Businesses expecting to make a loss in either the 2020 year or the 2021

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New Zealand: Inland Revenue announced relief regarding APA during COVID-19

12 April, 2020

The New Zealand’s Inland Revenue (IR) has announced relief regarding advance pricing agreement (APA) during the COVID-19 outbreak. Inland Revenue has assured that customers do not need to take any specific action now to ensure that their

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New Zealand enacts tax bill in response to COVID-19 pandemic

05 April, 2020

On 25 March 2020, the New Zealand Government has passed COVID-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020.  The Act aims to support the package of economic and social measures needed to recover from the impact of the

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New Zealand: Government releases economic package due to COVID-19 pandemic

22 March, 2020

O 17 March 2020, the New Zealand Government has unveiled a NZD 12.1 billion COVID-19 response package. From the package NZD 5.1 billion is allocated in wage subsidies for affected businesses in all sectors and regions, NZD 2.8 billion in business

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DTA between China and New Zealand enters into force

05 January, 2020

On 27 December 2019, the Double Taxation Agreement (DTA) between China and New Zealand was entered into force and applies from 1 January 2020. From this date, the new DTA will replace the existing DTA of 1986. The DTA contains Dividends rate 5% for

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New Zealand: Inland Revenue issues updated information on R&D tax incentives

15 December, 2019

On 29 November 2019, Inland Revenue of New Zealand has issued updated research and development (R&D) information and draft guidance on the latest proposals. The R&D tax incentives are included in the Taxation (KiwiSaver, Student Loans, and

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New Zealand: Inland Revenue updates its compliance focus on MNEs

18 November, 2019

On 1 November 2019, the Inland Revenue has published a document setting out its compliance focus in respect of Multinational Enterprises (MNEs). The document aimed to make tax compliance more transparent for businesses and provide transparency and

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New Zealand: Inland Revenue clarifies about BEPS disclosure requirement

03 November, 2019

Recently, the New Zealand's Inland Revenue has introduced the Base Erosion and Profit Shifting (BEPS) disclosure requirement to support the new BEPS rules, including the expanded information collection powers applying to large multinational groups.

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New Zealand: DTA signs with Switzerland

12 August, 2019

On 8 August 2019, officials from New Zealand and Switzerland signed an amending protocol to update the Double Taxation Agreement (DTA) between them in accordance with BEPS

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New Zealand: Inland Revenue publishes revised transfer pricing regime

28 May, 2019

On 29 April 2019, Inland Revenue published the final versions of the special reports on the new rules for base erosion and profit shifting (BEPS). The rules were enacted in the Taxation (Neutralising Base Erosion and Profit Shifting) Act 2018 on 27

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Japan: Tax authorities publishes the synthesized text with Israel, New Zealand, Poland, Slovakia, Sweden and the UK

08 November, 2018

Recently, the Japanese tax authorities published the synthesized text of the Japanese tax treaties with Israel, New Zealand, Poland, Slovakia, Sweden and the United Kingdom (UK) as modified by the MLI. The synthesized text reflects the agreement

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