Proposed GST measures, dual-resident company tax changes in New Zealand legislation

There are a couple of surprises contained within a tax Bill, introduced in New Zealand Parliament this week, as outlined by Rachel Piper and Darshana Elwela.

The New Zealand Government introduced the Taxation (Annual Rates for 2022-23, Platform Economy, and Remedial Matters) Bill (August Tax Bill) on 30 August 2022.

The accompanying commentary on the proposed changes are available here.

Main measures

New information reporting requirements for NZ digital platform operators from 1 January 2024
Requiring electronic marketplaces that facilitate the provision of “listed services” to account for GST from 1 April 2024 on these services rather than the services supplier. This will apply whether or not the services supplier is GST registered

Source KPMG