In the last month, Inland Revenue has released some helpful draft Interpretation Statements on the tax treatment of grants and subsidies. PUB00425: GST – Section 5 (6D): Payments in the nature of a grant or subsidy looks at how section 5(6D) of the Goods and Services Tax Act 1985 applies to grants and subsidies for the purposes of Goods and Services Tax (GST).
Source: Deloitte
