In New Zealand, a second omnibus tax bill for 2016 has been introduced and contains the following provisions:
The proposals would have broad application, and would largely implement measures that have been the subject of previous consultations. The business tax measures are expected to help business taxpayers manage their provisional tax, UOMI, and penalty exposures. The AEOI and foreign trust disclosure measures reflect New Zealand’s commitments as a “global citizen” to enhance tax transparency.
Read an August 2016 report [PDF 358 KB] prepared by the KPMG member firm in New Zealand: Business tax, AEOI and foreign trust legislation introduced
Read more about the AEOI proposals in an August 2016 report [PDF 50 KB] prepared by the KPMG member firm in New Zealand
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