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New Zealand Tax Agency Posts Guidance on Foreign Income Taxation, Offshore Tax Transparency

July 5, 2022, 5:00 AM

The New Zealand Inland Revenue June 28 posted online guidance on foreign income taxation and offshore tax transparency. Topics covered include: 1) a clarification on when tax payments on foreign income are required; 2) determination of tax residency; 3) temporary tax exemption and taxable income of transitional residents; 4) qualifications for transitional tax residency; 5) a list of DTAs and related tax credits; 6) a clarification on types of foreign income and the financial arrangement rules; 7) exchange of information programs and the mutual agreement procedure (MAP); 8) specific guidance for rental income, property gains, investment funds, pensions, life insurance, ...