Non-Resident Withholding Tax tagged posts
November 24, 2009 New Zealand Taxation
A supplementary order paper was released on November 24th, with several proposed additions to the Taxation (Consequential Rate Alignment and Remedial Matters) Bill.
Peter Dunne, New Zealand Revenue Minister, announced the release of a supplement to the Taxation Bill, which is near its final stages of parliamentary approval. The first of the amendments involves GST on inbound tour packages, the second concerns non-resident withholding tax rate reductions, and the third involves superannuation portability. According to Peter Dunne, the remaining six changes are minor and remedial.
The first change clarifies that facilitation services for tour packages for overseas tourists will be levied with GST at the current rate of 12.5%...Read More
Peter Dunne has announced the publication of a paper seeking feedback on taxation of New Zealand’s bond market.
In an effort to foster the growth of New Zealand’s domestic bond market, Peter Dunne, New Zealand Revenue Minister, has announced the publication of “AIL, NRWT and the bond market”. Primarily, the paper is concerned with the idea of lowering the Approved Issuer Levy on bonds to 0% when pre-determined circumstances are met.
It is suggested by the paper that dispensing with AIL, which according to the publication also can serve as a proxy for Non-Resident Withholding Tax (NWRT), could create a marginal advantage for the domestic bond market by easing the financial burden of issuing to non-residents...Read More