New Zealand to adopt the OECD GloBE (Pillar Two) rules

25 May 2023|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, BEPS 2.0|New Zealand

Pillar Two of the OECD's Global Anti-Base Erosion rules will apply in New Zealand. The application date is to be agreed by Parliament with reference to the take up of these rules in other territories.
An Income Inclusion Rule and Under Taxed Profits Rule will be introduced, together with a Domestic Income Inclusion Rule. The Income Inclusion Rule will apply on or after 1 January 2024, with the introduction of the Under Taxed Profits Rule not occurring before 1 January 2025.
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