New Zealand: 2023 Tax Act receives Royal Assent; quarterly review of other tax developments
A report that summarizes the 2023 Tax Act developments, and also provides a summary of direct and indirect tax developments
2023 Tax Act receives Royal Assent; quarterly review of other tax developments
The Taxation (Annual Rates for 2022-2023, Platform Economy, and Remedial Matters) Act 2023 received Royal Assent on 31 March 2023.
The legislation was reported back from the Finance and Expenditure Committee on 2 March 2023 with a number of recommendations and amendments, including a new fringe benefit tax exemption for employer-provided bicycles, e-bikes, scooters and mobility devices, as well as a number of tax relief measures for those affected by the North Island adverse weather events in January and February. Read TaxNewsFlash
Inland Revenue (IR) also released a series of administrative tax relief measures for those impacted by the adverse weather events.
Read an April 2023 report prepared by the KPMG member firm in New Zealand that summarizes those developments, and also provides a summary of direct and indirect tax developments and IR publications that have been released in January through March 2023.
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