- 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.
Latest Posts in "New Zealand"
- GST Ruling: Commercial Dwelling Status and Input Tax Deductions for Accommodation Supply
- New Zealand Inland Revenue Seeks Feedback on Updated Shortfall Penalties Guidance by October 31
- New Zealand Mandates Electronic Invoicing for Public Agencies by 2026
- 2025 GST Reform: What’s Changing in New Zealand’s Tax Law
- New Zealand’s Aging Population: Tax System Reforms to Address Future Economic Challenges