The Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill introduced in August 2016 was passed by Parliament yesterday and now awaits Royal assent. For more information see the Minister of Revenue’s media statement.
Special reports on key aspects of the new legislation: provisional tax changes and simplification for businesses, enabling legislation for New Zealand’s participation in the automatic exchange of financial information and changes to tighten New Zealand’s disclosure requirements for foreign trusts will be published here soon to give early information to interested parties. Full coverage of the new Act will be published in the Tax Information Bulletin.
Source: IRD