CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. New Zealand Minister Outlines Anti-BEPS Plans

New Zealand Minister Outlines Anti-BEPS Plans

by Mary Swire,, Hong Kong

25 November 2015

New Zealand will take steps to prevent base erosion and profit shifting (BEPS) while at the same time ensuring that the country continues to be a good place to do business, Todd McClay, Minister of Revenue, has said.

McClay was addressing a recent conference organized by the Chartered Accountants Australia and New Zealand on the issue of BEPS.

McClay said that the Government's tax policy work is focused on three main themes: sensible reforms within a broad-base, low-rate framework; tax administration reform to support Inland Revenue's business transformation; and a sensible, measured response to BEPS.

McClay said that he will agree with the Minister of Finance on appropriate BEPS items to add to the work programme. "We consider that there may be room for improvement in some areas of our tax rules. In particular we will be looking at interest limitation rules and whether or not they are cast appropriately. We will also be considering strengthening our anti-hybrid rules," he told participants.

The Minister however stressed that, "from the Government's point of view, BEPS should not be seen as loading more and more onerous burdens on firms." He added that "any tax policy changes to address BEPS concerns are not unduly complex and nothing is yet set in stone...An important component in our consultation on BEPS work will be outlining the Government's thinking on how best to tax inbound investment."

"BEPS is a matter of global concern for tax jurisdictions and no less so for New Zealand. The OECD is leading the charge at an international level, but New Zealand's response will, as always, be to take the considered view and consider the OECD recommendations and how they fit in with our tax system as a whole," he concluded.

TAGS: compliance | Finance | tax | investment | business | tax compliance | tax avoidance | interest | law | Australia | enforcement | ministry of finance | agreements | multinationals | legislation | tax planning | transfer pricing | New Zealand | tax reform | regulation | trade | BEPS

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »