GloBE Country Guide: New Zealand

Summary

Status	Enacted Law
Law	The Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Act, 2024 has been enacted, receiving Royal assent, March 28, 2024. On May 18, 2023, New Zealand published a draft law (the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill) to implement the Pillar Two Global Minimum Tax. This was updated on March 11, 2024
Effective Date	Fiscal years beginning on or after January 1, 2025.
IIR	Yes
UTPR	Yes
QDMTT	No (Domestic IIR from January 1, 2026)
Filing Deadlines	As per OECD Model Rules
Safe Harbours	Yes – Transposed

Legislation
General
Differences to Model Rules
Qualifying Domestic Minimum Top-Up Tax
Administration and Filing
Penalties

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Lee Hadnum

Lee is a qualified Chartered Accountant and a former Senior Tax Analyst at Bloomberg Tax. Lee began his career in Ernst & Young's Entrepreneurial Services department and has 20 years of international tax planning experience.

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