On 26 October 2010, the Taxation (International Investment and Remedial Matters) Bill was introduced into Parliament to make further reforms to the international tax regime.
Background
In 2009, an active income exemption was introduced for foreign companies controlled by New Zealand companies (CFCs). An "active business test" is passed where passive income is less than 5% of a CFC's gross income, in which case no income is attributed to the controlling …