OECD Pillar Two: GloBE rules for New Zealand
An officials' issues paper seeking feedback about whether and how New Zealand should participate in an OECD/G20 tax measure aimed at base erosion and profit shifting by large multinational enterprises.
Also known as the GloBE (Global Anti-Base Erosion) rules, the measure would impose a minimum 15% tax on the excess income of multinational enterprises in every country in which they operate. Excess income is income in excess of a routine return on tangible investment and employee costs.
The proposal is the main part of the OECD’s Pillar Two stream of work.
The closing date for submissions is 1 July 2022.