New Zealand will implement a digital services tax (DST) on large multinational companies in 2025 in an effort to create a fairer tax system. The tax will target businesses that earn income from New Zealand users of social media platforms, internet search engines, and online marketplaces. Multinational businesses that make over €750 million a year from global digital services and over NZD$3.5 million a year from digital services provided to New Zealand users will be subject to the tax. The proposed DST is expected to generate $222 million over the four-year forecast period and will be applied at a rate of three percent on gross taxable New Zealand digital services revenue. The Digital Services Tax Bill will be introduced to the House on Thursday 31 August.
Source Orbitax
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