- The New Zealand Government has reinstated the Digital Services Tax Bill.
- The bill proposes a 3% digital services tax if progress is not made on the OECD’s Two-Pillar multilateral solution.
- The proposed application date is 1 January 2025, but it could be deferred by up to five years.
- The bill serves as a backstop if a multilateral solution cannot be implemented.
- The timeframe for enactment of the bill is unclear.
- The bill was introduced before the General Election and has now been reinstated.
- Amendments to the bill are expected as it progresses through the Select Committee phase.
- More details will emerge in 2024 as the bill progresses through the legislative process.
- The bill has not yet been referred to Select Committee for public submissions.
Source: globaltaxnews.ey.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "New Zealand"
- New Zealand’s e-Invoicing Mandate: Transition, Compliance, and Benefits for Businesses and Government
- GST Ruling: Accommodation Supply in Commercial Dwelling and Input Tax Deductions Eligibility
- New Zealand Customs Updates GST Refund Process for Importers and Extends Application Period
- New Zealand Mandates E-Invoicing for Public Agencies by 2026 to Enhance Efficiency and Transparency
- The Future of e-Invoicing in New Zealand: Peppol, PINT A-NZ and the 2026 Electronic Invoicing Mandate