New Zealand News

New Zealand Consults On Imposing GST On Low-Value Imports

by Mary Swire, Tax-News.com, Hong Kong

Thursday, May 3, 2018

New Zealand has launched a consultation on proposals to charge goods and services tax on consignments worth less than NZD400, which currently benefit from a tax exemption for low-value imports, from October 1, 2019. Read Full Story

New Zealand's Tax Reform Consultation Ends This Week

by Mary Swire, Tax-News.com, Hong Kong

Tuesday, April 24, 2018

New Zealand is to soon begin formulating new tax reform measures, aimed at improving the balance and fairness of the tax regime, based on the feedback to a public consultation that ends April 30. Read Full Story

New Zealand Confirms Virtual Currencies Are Property For Tax Purposes

by Mary Swire, Tax-News.com, Hong Kong

Thursday, April 19, 2018

New Zealand has joined a number of territories in confirming this month that virtual currency transactions are taxable as property, in new guidance that was issued at the beginning of the month. Read Full Story

New Zealand Defers New Insurance Tax

by Mary Swire, Tax-News.com, Hong Kong

Thursday, April 12, 2018

New Zealand has deferred the introduction of a new tax on insurance contracts, which is proposed to be introduced to fund emergency services in the country. Read Full Story

OECD's Global Forum Releases New Tax Transparency Reports

by Mike Godfrey, Tax-News.com, Washington

Friday, April 6, 2018

The OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes has published nine peer review reports assessing territories' compliance with international standards on tax transparency. Read Full Story

NZ To Amend BEPS Bill's 'Restricted Transfer Pricing Rule'

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, February 21, 2018

New Zealand's Inland Revenue Department has flagged up an upcoming amendment to the Taxation (Neutralising Base Erosion and Profit Shifting) Bill due to a drafting error. Read Full Story

New Zealand Announces Drought Relief For Farmers

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, January 24, 2018

New Zealand on January 22, 2018, announced that tax relief measures will be extended to farmers in drought-hit areas. Read Full Story

Agreement Reached On New Trans-Pacific Partnership

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, January 24, 2018

Ministers from 11 countries have announced their agreement upon the "core elements" of a new Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Read Full Story

Taxpayers Urge New Zealand To End Tobacco Tax Grab

by Mary Swire, Tax-News.com, Hong Kong

Tuesday, January 2, 2018

New Zealand's Taxpayers' Union has bemoaned the Government's plans to increase the excise duty on tobacco by 10 percent each year until 2020, arguing that the burden disproportionately falls on lower income taxpayers and the Government is failing to provide enough funding to programs to help taxpayers cut down or quit smoking. Read Full Story

NZ Releases Guidance On Group Loss Relief Rules

by Mary Swire, Tax-News.com, Hong Kong

Wednesday, December 27, 2017

New Zealand's Inland Revenue Department has released standard practice statement SPS 17/03 – Loss offset elections between group companies - which sets out the rules for group companies that seek to elect to offset losses. Read Full Story

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