New Zealand: Closed consultation on Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Bill

Description

Closed consultation on Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Bill

On 9 October 2024, the New Zealand Parliament closed a consultation on the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Bill. The Bill would incorporate the Crypto-Asset Reporting Framework (CARF), developed by the OECD, into national legislation. This legal framework would mandate the reporting of tax information on transactions in crypto-assets in a standardised form, allowing the automatic exchange of this information with other jurisdictions. The Bill also sets out specific penalties for non-compliance with the CARF.

Original source

Scope

Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

Hide details
2024-08-26
under deliberation

On 26 August 2024, the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measure…

2024-08-30
in consultation

On 30 August 2024, the New Zealand Parliament opened a consultation on the Taxation (Annual Rates f…

2024-10-09
processing consultation

On 9 October 2024, the New Zealand Parliament closed a consultation on the Taxation (Annual Rates f…