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

Implementing automatic exchange of information (AEOI)

As at 4 April 2017 (see the page history for details of changes)


Latest update

Request for submissions – reportable jurisidictions

Request made for submissions on any jurisdictions that should not be included on New Zealand’s list of reportable jurisdictions. For more information see Request for submissions – reportable jurisdictions. Submissions should be sent to by 14 April 2017.

Special report on legislation

A special report providing early information on the automatic exchange of information legislation is now available.* Full coverage of the new Act will be published in the Tax Information Bulletin.

* When first published, the automatic exchange of information special report contained an error on page 20. This was corrected on 4 April 2017 and highlighted to identify the change.

Bill progress - now enacted

The Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act received Royal assent on 21 February 2017. The Bill was introduced in August 2016, reported back to Parliament by the Finance and Expenditure Select Committee in November 2016, and completed its third reading on 14 February 2017.

Technical documents

Two technical documents about implementing AEOI were published on 15 February 2017:

  • Changes to the Common Reporting Standard User Guide and CRS XML Schema v1.0
  • Inland Revenue validations (draft)
More information

Once the legislation is enacted we plan to provide detailed information about the legislation.

Information about the Common Reporting Standard is available from the OECD's automatic exchange portal.

Previous updates

Request for feedback – draft guidance

Draft guidance prepared by Inland Revenue was released for feedback on 20 December 2016. Feedback and any queries closed on 28 February 2017. For more information see the news item and the draft guidance document.

Request for submissions – excluded entities and accounts

Submissions on excluded entities and accounts closed on 31 January 2017. The request was made on 21 November 2016, with a fact sheet setting out the criteria.

Public information sessions

Over 200 attendees took part in public information sessions held during November (Wellington - 4th November, Auckland - 9th November, and a webinar - 18th November). These were aimed at financial institutions and covered the practical implementation and technical issues for the Common Reporting Standard.

The slides from the presentations are now available: PDF (502 KB) | PPTX (660 KB) | Slideshare (as an alternative).

Bill introduced

The Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill was introduced into Parliament on 8 August 2016.

The bill includes the proposed legislation to implement the G20/OECD standard for the Automatic Exchange of Information, which New Zealand Financial institutions will have to comply with.

The bill was referred to the Finance and Expenditure Select Committee on 11 August 2016, after its first reading. Submissions to the select committee closed on 9 September 2016.

For more information see:

Fact sheet with early information on key policy recommendations

A fact sheet with early information for financial institutions is now available. This sets out the key policy recommendations and key dates for financial institutions following consultation earlier in the year. Draft legislation is planned for introduction in August 2016.

Note: The proposals set out in the fact sheet and the draft legislation, once introduced, may change during the Parliamentary process.

Consultation document

An issues paper about implementing the global standard for the automatic exchange of information (AEOI) for New Zealand was released on 19 February 2016. Submissions closed on 31 March 2016.


The OECD/G20 AEOI initiative has implications that may affect a wide range of entities in different ways. Public sessions to help entities understand their AEOI obligations were held during March. The sessions included presentations by officials, followed by an opportunity to ask questions.


  • Auckland (7 March 2016): PDF (118 KB) | PowerPoint (201 KB) | SlideShare (as an alternative option)
  • Wellington (14 March 2016) and audio conference (17 March 2016): PDF (159 KB) | PowerPoint (201 KB) | SlideShare (as an alternative option)


In September 2013, in response to growing concerns about offshore tax evasion, G20 leaders announced an initiative to implement a new global Standard for Automatic Exchange of Financial Account Information in Tax Matters (in short, Automatic Exchange of Information, or AEOI).

AEOI will impose these obligations on jurisdictions and financial institutions (for AEOI purposes, known as reporting financial institutions):

  • Collection – Reporting financial institutions must conduct due diligence of their account holders (including the controlling persons of certain account holders) to identify reportable accounts, and collect defined information for those reportable accounts.
  • Reporting – Each reporting financial institution must report that information to their local tax administration.
  • Exchange – Each tax administration must exchange that information with their jurisdiction’s tax treaty partners.

The OECD has been charged by the G20 with providing technical direction for the initiative. In 2014 the OECD published the Common Reporting Standard (CRS), which sets out the rules for collection and reporting. The Common Reporting Standard is supplemented by a comprehensive commentary, and both documents along with other information about the AEOI initiative are available on the OECD's automatic exchange portal.

The Global Forum on Transparency and Exchange of Information for Tax Purposes has been tasked with monitoring the global implementation, conducting peer reviews, and reporting non-compliance to the G20.

New Zealand's implementation

Inland Revenue can exchange relevant information under most of its double tax agreements and the OECD multilateral convention on mutual administrative assistance in tax matters.

Implementing the Common Reporting Standard will ensure that Inland Revenue is provided with the information to be exchanged. In return, other jurisdictions will exchange information with Inland Revenue for use in detecting tax evasion by New Zealand residents.

New Zealand's proposed implementation timetable is:

Date Milestone
August 2016 The legislation will be introduced into Parliament (as part of the Taxation (Business Tax, Exchange of Information and Remedial Matters) Bill.
Late 2016 Inland Revenue will call for submissions on reportable jurisdictions and excluded entities and accounts.
March 2017 The Bill is expected to receive Royal assent. The bill was enacted on 21 February 2017.
March 2017 Call for submissions on reportable jurisdictions.
Early to mid-2017 Initial list of reportable jurisdictions, participating jurisdictions, and excluded entities and accounts.
1 July 2017 Reporting financial institutions commence due diligence procedures.
1 April 2018 to 30 June 2018 Reporting financial institutions submit their AEOI reporting to Inland Revenue for the tax year ending 31 March 2018.
30 September 2018 Final date for Inland Revenue to exchange information with other reportable jurisdictions for the reporting period ending 31 March 2018.

More information

Send an email to

  • to get added to our notification list for AEOI updates;
  • for any questions about the initiative.

Page history:

  • Last updated: 4 April 2017
  • Changes made:
    • 4 April 2017 - Special report (in advance of the Tax Information Bulletin) updated to correct an error
    • 29 March 2017 - Submissions requested on reportable jurisdictions
    • 3 March 2017 - A special report providing early information on the automatic exchange of information added to the site on 28 February 2017
    • 27 February 2017 - Bill progress updated: the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act received Royal assent on 21 February 2017
    • 15 February 2017 - Added two technical documents: Changes to the Common Reporting Standard User Guide and CRS XML Schema v1.0, Inland Revenue validations (draft)
    • 15 February 2017 - Bill progress updated - it is now waiting for Royal assent, submissions on excluded entities and accounts closed on 31 January 2017
    • 31 January 2017 - Implementation timetable updated (item in bold added, strikethrough added for items completed)
    • 22 December 2016 - Bill status updated, added link to draft guidance published for feedback and news item
    • 7 December 2016 - The bill was reported back to Parliament on 28 November 2016, updated current status, added links to news item and officials' report on submissions
    • 21 November 2016 - November public information sessions held, slides from presentations added, details about information and requests over the next few months added, call for submissions on excluded entities and accounts added
    • 3 November 2016 - Webinar information added
    • 21 October 2016 - Bill progress and information about public information sessions in November
    • 23 September 2016 - Minor update, submissions to the Finance and Expenditure Select Committee closed on 9 September 2016
    • 17 August 2016 - Update with bill introduction, including links to related information
    • 28 July 2016 - Update with the fact sheet and early information for financial institutions added, proposed implementation timetable updated
    • 6 April 2016 - Submissions for the consultation document closed on 31 March 2016
    • 18 March 2016 - Public presentations held - summarised this section with a link to the slides
    • 10 March 2016 - Details for audio conference added, updated presentation slides added (minor change to cover slide)
    • 7 March 2016 - Auckland presentation added
    • 2 March 2016 - Initial page published