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Features News Articles and Reports − keeping you up-to-date with local and international tax-related matters.
Changes to ITIN expiry dates
Today the IRS is reminding taxpayers who have an ITIN to check whether they need to renew it.
NZ Revenue Minister Addresses Tax Conference
The Minister of Revenue Michael Woodhouse spoke at the Chartered Accountants Australia and New Zealand (CA ANZ) tax conference today. He covered updates to the Government’s tax policy work programme, including base erosion and profit shifting.
NZ SPS 16/04 shortfall penalty payment / losses
New measures come into effect from 1 November 2016 with respect to the ability of a New Zealand taxpayer to apply tax losses to a shortfall penalty imposed by the Inland Revenue Department.
NZ Tax Residency: IS 16/03 issued
Following the 2015 tax residency case CIR v Diamond, which went to the Court of Appeal, Inland Revenue has updated its tests for NZ tax residency through the issue of Interpretation Statement IS 16/03, issued 21 September 2016.
NZ revamp – tax treatment of ESS
Following an officials' issues paper released by the Inland Revenue Department in May this year, an updated consultation paper on the New Zealand tax treatment of Employee Share Schemes (ESS) was issued earlier this month. Revision of the New Zealand tax treatment of...
NZ proposal on Hybrid Mismatch Arrangements
Last week the New Zealand government issued a discussion document proposing that the Organization for Economic Co-operation and Development (OECD)'s recommendations contained in the Base Erosion Profit Shifting (BEPS) plan for combating hybrid mismatches be adopted. A...
Exchange of info & foreign trust disclosures
The Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill (‘bill’) was recently introduced in New Zealand. The bill contains a number of proposed amendments to the Income Tax Act and the Tax Administration Act.
IRS Notice 2015-79 Inversions & Related Transactions
The IRS announced tightening of anti-inversion rules (Notice 2015-79) regulations addressing tax avoidance transactions at the time of, and post-inversion.
IRSAC 2015 Annual Report released
IRSAC 2015 Annual Report was presented to the IRS Commissioner yesterday. Gina Gatchell looks at its recommendations in detail.