New thin cap and land acquisition tax rules due this month

Thu, 07 Nov 2013

Nov 8 (BusinessDesk) – Tax legislation will be introduced to Parliament later this month to tighten the rules relating to thin capitalisation, where foreign companies seek to reduce tax in New Zealand by loading the local subsidiary with tax deductible debt. The move was announced this morning at the New Zealand Institute of Chartered Accountants’ annual conference in Auckland by Revenue Minister Todd McClay. Also to be amended in a bill to be introduced this month will be rules relating to the date of land acquisitions, in a move to require...

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