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New Zealand Inland Revenue is seeking public input on draft tax guidance aimed at helping businesses comply with the Taxation (Neutralising Base Erosion and Profit Shifting) Act, which was enacted earlier this year.
The draft guidance – issued on August 27 – covers the new rules aimed at interest limitation, hybrid mismatch arrangements, transfer pricing, permanent establishment avoidance, and administrative measures.
According to the Department, the feedback received will be used to improve the content and presentation of the guidance. The Department will publish the final guidance early next year.
The Department said: “To help ensure that the coverage of these topics is useful to the public, we are providing this in draft format for public feedback. This will allow readers to see the form of the guidance, the direction it takes and the level of detail. Readers will be able to gauge for themselves what areas more explanation is required.”
Comments must be received by September 28, 2018.
See Draft Guidance.