New Zealand’s Inland Revenue today announced that the Government has ratified the OECD’s Multilateral Convention to implement tax treaty-related measures to prevent base erosion and profit shifting (BEPS).
Ukraine has become the 83rd tax jurisdiction to sign the base erosion and profit shifting (BEPS) Multilateral Convention.
Kazakhstan, Peru, and the UAE have signed the base erosion and profit shifting (BEPS) Multilateral Convention, the OECD has announced, adding that Estonia intends to sign the Convention on June 29.
A bill aimed at tackling multinational tax avoidance will come into force on July 1, 2018, New Zealand’s Revenue Minister, Stuart Nash, has announced.
Chartered Accountants Australia and New Zealand (CA-ANZ) has stressed that by implementing the Taxation (Neutralising Base Erosion and Profit Shifting) Bill in its current form, the New Zealand Government would be “going further than most other OECD countries.”
By Alex Cooper
The New Zealand Inland Revenue is seeking to rectify a drafting error in a new rule to limit the rate of deductible interest on related-party, cross-border debt (the restricted transfer pricing rule) in the Taxation (Neutralising Base Erosion and Profit Shifting) Bill.