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New Zealand: “Tax working group” interim report

New Zealand: “Tax working group” interim report

New Zealand’s “tax working group” released an interim report that includes discussions of two key issues:

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  • The taxation of capital income
  • How the tax system can be used to achieve/encourage environmental and ecological outcomes

The report sets out detailed options for extending taxation to certain capital assets (but no recommendations) and a framework for deciding when to apply taxes to address negative environmental outcomes.

The tax working group does not recommend a reduction in the company tax rate. While base erosion and profit shifting (BEPS) is outside the scope of the report, the tax working group’s report recommends that the government be prepared to implement unilateral measures if further multilateral action on BEPS fails.

Final recommendations are due by February 2019 and comments are requested.

 

Read a September 2018 report [PDF 321 KB] prepared by the KPMG member firm in New Zealand

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