New Zealand Inland Revenue's Policy and Strategy group has published two special reports in relation to the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill, which was passed by parliament on 14 February 2017 and received Royal assent on 21 February.
The Special report on simplified business tax processes covers changes made by the Bill to:
- Modify the application of use-of-money interest (UOMI) for taxpayers who make all but their last installment of provisional …