New Zealand-Sweden: Deposit ratification instrument for BEPS MLI
New Zealand and Sweden deposited their ratification certificates on 27th June and 22nd June 2018, respectively for the multilateral agreement on the implementation of tax-relevant measures to prevent erosion and profit shifting (MLI). The MLI will
See MoreNew Zealand’s taxation act regarding Neutralising Base Erosion and Profit Shifting receives royal assent
New Zealand's Taxation (Neutralising Base Erosion and Profit Shifting) Act received royal assent on 27 June 2018. The main measures of the Act are summarized as follows: CbC reporting requirement: According to the published guidance on
See MoreNew Zealand: Budget for 2018
On 17th May 2018, Finance Minister submitted New Zealand’s Budget for 2018 in the Parliament. The Budget process allows the government to: set its fiscal objectives in respect of revenue, expenditure, debt repayment and investment; maintain
See MoreNew Zealand: Government releases R&D tax incentive discussion document
Government has announced its intention to introduce a research and development tax incentive in April 2019 to help more businesses undertake a greater amount of R&D on 19th April 2018. The Ministry of Business, Innovation and Employment, Inland
See MoreNew Zealand: Government drafting amendments to transfer pricing rule
On 14th February 2018 government announced that it will recommend a change to transfer pricing provisions in a bill designed to lessen tax avoidance by multinationals. This bill concerns the new rule to limit the rate of deductible interest on
See MoreNew Zealand: A tax bill regarding BEPS introduces in Parliament
A tax bill which will counter base erosion and profit shifting (BEPS) by multinational companies has been introduced into Parliament on 6th December 2017. The bill would implement the government’s policies concerning BEPS matters. The proposals
See MoreNew Zealand: A tax bill to counter tax avoidance introduces into Parliament
On 6 December 2017, a tax bill to counter tax avoidance has been introduced into New Zealand’s Parliament by multinational companies and Minister of Revenue also published its commentary on the bill. Most provisions would enter into effect July
See MoreNew Zealand: The Council strengthens smokefree policy
Auckland Council has strengthened their Smokefree Policy to make all al fresco dining on footpath and Beaches areas smokefree. The new policy, which will come into effect from November 2017, requires all cafés and restaurants with licenses to
See MoreIndia: Protocol amending DTA with New Zealand enters into force
On 7 September 2017, the amending protocol of Double Taxation Agreement (DTA) between India and New Zealand was entered into force and it was applied from 7 September
See MoreNew Zealand: Government announces BEPS decisions
The Finance Minister and Revenue Minister have announced the Government’s final decisions on proposals to address base erosion and profit shifting (BEPS) on 3rd August 2017. In combination the new measures will: Stop foreign parents charging
See MoreNew Zealand-Hong Kong: Protocol to tax treaty updated
Revenue Minister has signed a new tax protocol between New Zealand and Hong Kong on 28th June 2017. The protocol updates the existing double tax agreement between New Zealand and Hong Kong, to allow full exchange of information on tax matters
See MoreHong Kong signs AEOI agreement with New Zealand
Hong Kong has signed an agreement with New Zealand for conducting automatic exchange of financial account information in tax matters (AEOI), a Government spokesman said on July 14, 2017. The spokesman added that they have been seeking to expand Hong
See MoreNew Zealand updates TIEAs with 6 countries
Inland Revenue of New Zealand has updated tax information exchange agreements (TIEAs) with the following jurisdictions: Agreement with Entered into force Applies Anguilla 6-Jan-17 1-Apr-17 Bahamas 10-Jan-17 10-Jan-17 British Virgin
See MoreNew Zealand: Budget for 2017
The budget for 2017 was passed by Parliament on 26th May 2017. The Budget bill contains changes to tax thresholds and to Working for Families. The changes will come into effect on 1 April 2018. The changes are given below: Income tax thresholds:
See MoreNew Zealand signs BEPS Multilateral Instrument
On 7th June 2017 the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (referred to as the Multilateral Instrument, or MLI) was signed in Paris. This OECD measure targets base erosion and profit shifting (BEPS). It
See MoreUS: Government sign an arrangement with New Zealand to exchange CbC reports
The competent authorities of New Zealand and the U.S. have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of country-by-country reports is on the basis of a double tax
See MoreNew Zealand: Business organization endeavor progressive corporate tax
Small and medium measured organizations (SMEs) in New Zealand need the nation to change partnership charge in accordance with recent changes presented by Australia. It said that 63% of entrepreneurs support presenting a graduated organization tax
See MoreNew Zealand: Finance Minister releases BEPS consultation papers
The Revenue and Finance Minister on 3 March 2017 released three BEPS related consultation papers which address the issue of Base Erosion and Profit Shifting (BEPS). The consultation papers proposed new measures to strengthen New Zealand’s rules
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