New Zealand Tax Agency Issues Determination on 2025 International Tax Disclosure Exemption

The New Zealand Inland Revenue March 31 issued Determination No. ITR36, on the 2025 international tax disclosure exemption, applicable to the income year corresponding to the tax year that ended March 31. The 2025 disclosure exemption scope remains unchanged from the previous year’s exemption. The 2025 disclosure exemption removes the requirement of residents to disclose: 1) an interest in a nonresident company if the resident has an income interest of less than 10 percent in that company and either that income interest is not an attributing interest in a foreign investment fund (FIF) or it falls within the NZ$50,000 (US$28,583) ...