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New Zealand Parliament Considers Omnibus Tax Bill

Sept. 12, 2022, 5:00 AM

The New Zealand Parliament Sept. 8 accepted for consideration Bill No. 164-1, an omnibus tax bill. The bill includes measures to: 1) set annual income tax rates for tax year 2022-23 at those currently specified for individuals, corporations, trusts, investments, employer superannuation contribution tax (ESCT), retirement scheme contribution tax (RSCT), resident withholding tax (RWT), and attributed fringe benefits; 2) implement OECD rules for digital platforms on reporting and tax information exchange; 3) require electronic marketplace operators to collect GST on taxable accommodations and certain transportation services, effective April 1, 2024; 4) require these operators to take an 8.5 percent deduction ...