- New Zealand will introduce a digital services tax on large multinational companies from 2025, after talks for a global rollout did not reach consensus at the OECD.
- Over 140 countries were supposed to implement a 2021 deal overhauling outdated rules on how governments tax multinationals, but the proposal was pushed back last month.
- The proposed tax will target multinational businesses that earn income from New Zealand users of social media platforms, search engines and online marketplaces.
- The tax would be applied at 3% on gross taxable New Zealand digital services revenue and is expected to generate NZ$222m over four years.
Source Reuters
Latest Posts in "New Zealand"
- New GST Refund Rules for Returned Imports: Extended Deadlines and Simpler Processes in New Zealand
- New Zealand Expands Definition of Taxable Activity Under GST Act in New Interpretation Statement
- New Zealand e-Invoicing Rules: What Large Suppliers Must Do to Secure Government Contracts by 2027
- Tax Status of Serviced Apartment Accommodation with Mandatory Hospitality Services in Retirement Villages
- New Zealand Consults on GST Rules for Payment Processing and Facilitation Services
