News

New Zealand Tightens Foreign Trust Disclosure Rules

The New Zealand Parliament has passed the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill which introduces trust reform measures. The Bill was passed on 14 February 2017 and is now awaiting Royal Assent. The Bill introduces new disclosure requirements for foreign trusts and requires trustees to register their foreign trust with tax authorities by 30 June 2017 and thereafter, to notify any changes within 30 days of becoming aware of them.

Click here to read more about the bill.