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Income Tax Act 2007

Schedule 25B: Items modifying global anti-base erosion model rules

You could also call this:

"Changes to rules to stop companies avoiding tax in New Zealand"

Illustration for Income Tax Act 2007

You are looking at a schedule called 'Items modifying global anti-base erosion model rules'. This schedule is part of the Income Tax Act 2007. It has some rules that change other rules. The schedule says some words are replaced with 'New Zealand' in certain places. It also says some articles are inserted or replaced. Some articles are disregarded, which means they are not used. The schedule was changed by the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024. You can find more information about these changes in section 123 of that Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1022106.

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Money and consumer rights > Taxes
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Schedule 25: Foreign investment funds, or

"Rules about overseas money investments"

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Schedule 26: Low tax jurisdictions or territories, or

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25BItems modifying global anti-base erosion model rules Empowered by ss DB 1, HP 3, LJ 3, OB 7BB, OP 11BA

  • Each of the following formulations of wording are replaced by the words New Zealand in each place:
    1. [insert name of implementing-jurisdiction]:
      1. [insert name of implementing-Jurisdiction]:
        1. [insert name of implementing jurisdiction].
        2. The following Articles are inserted after Article 2.1.6:
          1. Articles 2.4.1 and 2.4.2 are replaced with:
            1. Article 7.2.1(b)(i) is replaced with:
              1. Article 8.1 is disregarded.
                1. Article 8.3 is disregarded.
                  1. In Article 9.3.2, in the words before the paragraphs, Article 9.3 is replaced with Articles 2.1 and 9.3.
                    1. In Article 9.3.5, in the words before the paragraphs, the words [Optional provision] are disregarded.
                      1. In Article 9.3.5(a), the words [Optional provision] are disregarded.
                        1. Article 9.4 is disregarded.
                          1. The following Article is inserted after Article 10.1.1:

                              1. Notes
                              • Schedule 25B item 1B: inserted, on , by section 123(3) (and see section 123(6) for application) of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 (2024 No 11).
                              • Schedule 25B item 5B: inserted, on , by section 123(4) (and see section 123(6) for application) of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 (2024 No 11).