- New Zealand Inland Revenue opened a consultation on proposed interpretation statements and FAQs regarding tax treatment of corporate amalgamations
- A corporate amalgamation is a type of business combination where two or more companies join together to form a single new entity. Unlike a merger or acquisition, where one company typically absorbs another, an amalgamation involves a more equal partnership.
- Topics covered include income tax and GST treatment, rules governing financial arrangements, de minimis exemption threshold, calculation of available subscribed capital, and treatment of unclaimed tax losses
- Comments are due by Nov. 1, 2024
Source: news.bloombergtax.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.
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