Inland Revenue - Tax policy Tax Policy

News and information about the Government's tax policy work programme, including:
- proposed changes to the laws that Inland Revenue is responsible for
- updates on the progress of bills through Parliament
- policy announcements

Error in BEPS Bill

15 February 2018

Inland Revenue has become aware of an error in the Taxation (Neutralising Base Erosion and Profit Shifting) Bill currently being considered by the Finance and Expenditure Committee. Wording in the Bill means that the interest deduction limitation rule applying to cross-border related party loans is not applied as widely as it should. A note issued by Inland Revenue explains the issue and the solution officials intend to recommend to the Finance and Expenditure Committee. Submissions can be made to the select committee by 2 March.