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Income Tax Act 2007

Taxation of certain entities - Taxation of members of certain multinational groups

HP 2: Payment date for multinational top-up tax

You could also call this:

“When to pay multinational top-up tax to the government”

When you have to pay multinational top-up tax, you pay it to the Commissioner. You pay it by a certain date, which is either 20 months or 16 months after the end of the fiscal year. If it is your first time paying this tax, and you have to provide a return under section 78J of the Tax Administration Act 1994, you pay it 20 months after the end of the fiscal year.

If you have paid this tax before, you pay it 16 months after the end of the fiscal year. You must pay the tax by this date. This is when the Commissioner expects to receive your payment.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1022073.

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HP 1: Liability for multinational top-up tax, or

"Big companies might have to pay extra tax to help make tax fairer"

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Part H Taxation of certain entities
Taxation of members of certain multinational groups

HP 2Payment date for multinational top-up tax

  1. A constituent entity must pay its multinational top-up tax for a fiscal year to the Commissioner by,—

  2. for the first fiscal year for which the constituent entity is required to provide a return under section 78J of the Tax Administration Act 1994, the date that is 20 months after the end of the fiscal year:
    1. otherwise, the date that is 16 months after the end of the fiscal year.

      Notes
      • Section HP 2: inserted, on , by section 102(1) (and see section 102(2) for application) of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 (2024 No 11).