New Zealand Enacts New GST Legislation
New Zealand has enacted the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act. I honestly don’t know how they come up with these catchy names, I really don’t.
The legislation will introduce new GST collection obligations for low-value imported goods, and will make a number of “fairness changes” to the tax regime; one of the biggest changes will require offshore businesses that supply low-value goods (those worth NZD1,000 (USD667) or less) to New Zealand to collect GST. From December 1, offshore businesses who supply more than NZD60,000 of services and low-value goods per year will pass on GST directly to Inland Revenue.
For more information on this, and other topical international tax matters, please visit: https://www.cchgroup.com/roles/corporations/international-solutions/research/global-tax-weekly-a-closer-look