New Zealand: Business tax proposals, next phase | KPMG | GLOBAL

New Zealand: Business tax proposals, next phase

New Zealand: Business tax proposals, next phase

The next phase of Inland Revenue’s “business transformation changes”—this time, aimed at business taxation—has been announced. The business tax proposals include measures that would provide for:


Related content

  • Changes to the “use of money” interest and penalties rules
  • A new accounting-based method to calculate and pay provisional tax
  • Changes to the tax regime for contractors and extending these rules to labour-hire firms
  • Allowing Inland Revenue to report tax debt to credit rating agencies and to share information with the Companies Office about “serious offences”

Consultation submissions concerning these proposals are due by 30 May 2016. 


Read an April 2016 report [PDF 639 KB] prepared by the KPMG member firm in New Zealand

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal