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Income Tax Act 2007

Schedule 24: International tax rules: grey list countries

You could also call this:

"Countries with special tax rules: a list of nations with unique income tax laws"

Illustration for Income Tax Act 2007

The Income Tax Act 2007 has a list of countries called grey list countries. You can find this list in the schedule called International tax rules: grey list countries. This schedule is empowered by sections ss DZ 11 and YA 1.

The grey list countries are Australia, Canada, Federal Republic of Germany, Japan, United Kingdom of Great Britain and Northern Ireland, United States of America, Norway, and Kingdom of Spain. Some of these countries have special rules for taxing income from business activities carried on outside the country.

These special rules include exemptions, allowances, and reliefs for certain activities, like offshore banking units in Australia or international banking centres in Canada. The rules also cover special areas like enterprise zones in the United Kingdom or the Canary Islands in Spain.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1523375.

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24International tax rules: grey list countries Empowered by ss DZ 11, YA 1

Part AGrey list countries

  • Australia, excluding the Territory of Norfolk Island
    1. Canada
      1. Federal Republic of Germany
        1. Japan
          1. United Kingdom of Great Britain and Northern Ireland
            1. United States of America, excluding its possessions and territories
              1. Norway
                1. Kingdom of Spain

                    1. Part BFeatures of the taxation law of countries specified in Part A

                  1. Any exemption from income tax for income derived from business activities carried on outside the country.
                    1. In the case of Australia, any special allowances, reliefs, or exemptions with respect to offshore banking units.
                      1. In the case of Canada, any special allowances, reliefs, or exemptions with respect to international banking centres.
                        1. In the case of the Federal Republic of Germany, any special allowances, reliefs, or exemptions with respect to regional located investment in the former German Democratic Republic or in West Berlin.
                          1. In the case of the United Kingdom of Great Britain and Northern Ireland, any special allowances, reliefs, or exemptions with respect to activities carried on in enterprise zones.
                            1. In the case of Canada, any special allowances, reliefs, or exemptions provided to non-resident owned investment corporations pursuant to section 133 of the Income Tax Act (Canada).
                              1. In the case of the Kingdom of Spain, any special allowances, reliefs, or exemptions with respect to activities that are carried on in, or by an enterprise registered in, the following:
                                1. Canary Islands:
                                  1. Ceuta:
                                    1. Melilla:
                                      1. Alava:
                                        1. Guipúzcoa:
                                          1. Vizcaya:
                                            1. Navarra.

                                              2.