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Multinationals tax legislation introduced

Published: 31st January 2018

Author: Jess Collett, Norris Ward McKinnon

New tax laws are being introduced to prevent multinationals from avoiding tax by shifting profits out of New Zealand. The Taxation (Neutralising Base Erosion and Profit Shifting) Bill will affect multinationals operating in New Zealand and overseas.

The measures will be aimed at addressing:

  • Multinationals that use artificially high interest rates on loans from related parties to claim tax deductible expenses
  • Arrangements that exploit differences between two or more countries’ tax rules to pay less tax
  • Artificial arrangements to avoid having a permanent establishment, thus avoiding a taxable presence in New Zealand, and
  • Transactions with offshore group members that do not reflect the actual economic activities the multinationals are undertaking in New Zealand and offshore.

The new measures will see New Zealand’s tax laws regarding cross-border transactions become more aligned with those in Australia and are generally consistent with OECD recommendations.
If the Bill is passed in its current form, it’s expected that many of the proposed changes will come into force to align with the income years beginning on or after 1 July 2018.

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Daniel Overton & Goulding

We offer a wide range of legal services and advice to our clients who come to us with a number of different legal issues. In all instances we strive to get our clients the best advice and outcome. Come to our experienced and knowledgeable team about any legal issue and if we cannot find the answer we will be able to get you the right expert who will get you the right advice, and get you the best result. This is a vital part of our client care.

Region: Auckland

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Attewell Clews & Cooper

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We are committed to being at the top of our game to ensure that our clients receive accurate and up-to-date legal advice.  We understand the world is online and use fore-front technology to achieve greater productivity and efficiency.  We encourage contact via email and text message, use an online legal library, have an intuitive practice management system and encourage our clients to pay online.

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Law North Limited

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Le Pine & Co enjoys supporting and contributing to the Taupo community and many of its organisations. Building bike trails with Bike Taupo, setting up trusts for inspiring local projects, supporting the youth of Taupo - the team at Le Pine & Co gets involved in its community in a wide variety of ways. 

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Gawith Burridge

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Greg Kelly Law Ltd

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Hannan & Seddon

The Law Firm of Hannan & Seddon dates back to September 1867.

The firm's offices were in Werita Street from 1867 until 1982 when the firm moved to Tarapuhi Street and then to its current spacious premises at 61 Guinness Street in 1998.

The name Hannan comes from Mr Michael Hannan whose son John Hannan (Jack) joined the firm in 1908. Jack Hannan remained in partnership until he passed away in 1974 at the age of 90!

The name Seddon comes from Mr T E Y Seddon (son of Premier Richard John Seddon from Kumara) who joined the firm in the 1920's. The other prominent Solicitor at Hannan & Seddon was Cyril McGinley who joined the firm in the late 1920’s and retired as a Consultant in 1997 aged 87.

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Phone: 03 768 4169

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