Ministers English and Woodhouse today released the report from tax expert John Shewan following the Government Inquiry into New Zealand’s foreign trust disclosure rules.
The Ministers also released a Cabinet paper that sets out New Zealand’s response to the issue of base erosion and profit shifting (BEPS). The Cabinet paper explains BEPS and outlines New Zealand’s response to date as well as planned work. This was welcomed by Ministers English and Woodhouse in a media statement today.
For more information see:
Government inquiry into foreign trust disclosure rules
The independent review by John Shewan of New Zealand’s disclosure rules for foreign trusts.
Base erosion and profit shifting (BEPS) – update on the New Zealand work programme
This report to Cabinet provides context for the BEPS issue and describes the work that has taken place so far at the OECD and within New Zealand. It also outlines New Zealand’s proposed BEPS policy work for the next 12 months.
New Zealand’s plan to ensure multinationals pay their fair share of tax
A summary of the work undertaken to date to address BEPS, as well as an outline of planned work.
New Zealand’s taxation framework for inbound investment
This draft document describes New Zealand’s approach to taxing foreign investment income. It is being used as the basis for targeted consultation with private sector representatives, but is being released more widely to facilitate a wide understanding of the trade-offs the Government faces in responding to BEPS. A final version of this paper will be released in the next few months together with consultation documents for public feedback on measures to address BEPS.