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Foreign Investment Funds Paper Released

March 19, 2010 International TaxationNew Zealand Taxation

BeehiveThe New Zealand Government has released an issues paper seeking feedback on possible changes to be made to the tax treatment of non-portfolio foreign investment funds.

At the International Fiscal Association conference held in Christchurch on March 19th Peter Dunne, New Zealand Revenue Minister, released an issues paper on the tax treatment of New Zealand companies with offshore subsidiaries. The paper aims to build upon reforms carried out last year in an effort to allow national companies to compete in foreign markets without major tax hindrance. Particularly the issues paper seeks feedback on how tax exemptions could be extended to investments made by New Zealand companies into foreign entities in which they are not a controlling partner, commonly called a foreign investment fund.

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