New Zealand Tax Agency Explains Modernized GST Invoicing Rules and Recordkeeping Requirements

The New Zealand Inland Revenue Sept. 12 clarified changes to the GST invoicing rules and recordkeeping requirements, effective March 30. The clarification explains: 1) the ability of buyers who don’t receive tax invoices to support expense claims with other records; 2) the requirement that sellers continue providing tax invoices for sales costing more than NZ$50 (US$30) until March 31, 2023; 3) the ability of GST registered buyers and sellers to use buyer-created tax invoices by agreement, rather than through the tax agency’s pre-approval; and 4) shared tax invoicing for GST supplier groups. [New Zealand, Inland Revenue, 09/12/22]

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