There are a couple of surprises contained within a tax Bill, introduced in New Zealand Parliament this week, as outlined by Rachel Piper and Darshana Elwela.
The New Zealand Government introduced the Taxation (Annual Rates for 2022-23, Platform Economy, and Remedial Matters) Bill (August Tax Bill) on 30 August 2022.
The accompanying commentary on the proposed changes are available here.
Main measures
- New information reporting requirements for NZ digital platform operators from 1 January 2024
- Requiring electronic marketplaces that facilitate the provision of “listed services” to account for GST from 1 April 2024 on these services rather than the services supplier. This will apply whether or not the services supplier is GST registered
Source KPMG
