INTERNATIONAL TAX PLAZA - New Zealand - Bill enabling legislation for New Zealand’s participation in the automatic exchange of financial information passed by Parliament

Details: Published: 15 February 2017

On February 14, 2017 the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill introduced in August 2016 was passed by Parliament. The Bill now awaits Royal assent.

Key aspects of the new legislation are:

· Provisional tax changes and simplification for businesses;

· Enabling legislation for New Zealand’s participation in the automatic exchange of financial information; and

· Changes to tighten New Zealand’s disclosure requirements for foreign trusts will be published here soon to give early information to interested parties.

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