New Zealand Inland Revenue has issued a determination on the 2024 international tax disclosure exemption, which limits the requirement for taxpayers to disclose interests in foreign entities for the income year corresponding to the tax year ended on 31 March 2024. The scope of the 2024 disclosure exemption is the same as the 2023 disclosure exemption.
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Summary
In summary, the 2024 disclosure exemption removes the requirement of a resident to disclose:
- An interest in a foreign company…