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<p>The Minister of Revenue introduced a new taxation Bill into the House today. The <a href="/bills/53-65">Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Bill</a> contains a range of proposed improvements and maintenance measures to ensure the smooth functioning of the tax system, including to:</p>
<ul>
<li>align the GST invoicing rules more closely with current business practice</li>
<li>modernise the GST rules in relation to cryptoassets</li>
<li>set penalties for the sale and acquisition of sales suppression software, and</li>
<li>set the annual income tax rates for the 2021–22 tax year.</li>
</ul>
<p>For more information see the <a href="https://legislation.govt.nz/bill/government/2021/0065/12.0/contents.html">Bill</a>, the <a href="/publications/2021/2021-commentary-argrm-bill">Bill commentary</a>, the <a href="http://disclosure.legislation.govt.nz/bill/government/2021/65/">departmental disclosure statement</a>, and the <a href="/publications/2021/2021-ris-argrm-bill">regulatory impact statements</a>.</p>
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