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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Foreign dividends

78J: Annual multinational top-up tax return

You could also call this:

"A special tax return for big companies in New Zealand to check if they owe extra tax."

Illustration for Tax Administration Act 1994

You have to fill out a special tax return if you are a company in New Zealand. This is under the global anti-base erosion rules. You must give this return to the Commissioner. You do not have to do this if another company in New Zealand is not a securitisation entity. Your return must show if you have to pay multinational top-up tax. It must also show how much tax you have to pay. You have to give the return to the Commissioner by a certain date. For your first return, this date is 20 months after the end of the year. For other returns, it is 16 months after the end of the year. Your return must include a notice about your tax assessment, as required by section 92BA.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1019971.

Topics:
Money and consumer rights > Taxes
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"Big companies must report information to the government each year"

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Part 3Information, record-keeping, and returns
Returns: Foreign dividends

78JAnnual multinational top-up tax return

  1. This section applies to a constituent entity located in New Zealand under the applied global anti-base erosion rules for a fiscal year in which the constituent entity is an entity to which the global anti-base erosion model rules apply.

  2. This section does not apply to a constituent entity that is a securitisation entity if—

  3. another constituent entity is located in New Zealand in the fiscal year; and
    1. that other constituent entity is not a securitisation entity.

      1. The constituent entity must provide to the Commissioner a return for the fiscal year, in the form prescribed by the Commissioner, that shows—

      2. whether or not the constituent entity has a multinational top-up tax liability for the fiscal year; and
        1. the amount of multinational top-up tax payable by the constituent entity for the fiscal year, if any; and
          1. any other information required by the Commissioner.

            1. The return for a fiscal year must be provided to the Commissioner by,—

            2. for the first fiscal year for which the constituent entity is required to provide a return under this section, 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.

                1. A return must contain a notice of the assessment required to be made under section 92BA.

                Notes
                • Section 78J: inserted, on , by section 140(1) (and see section 140(2) for application) of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 (2024 No 11).
                • Section 78J(1B): inserted (with effect on 1 January 2025), on , by section 175 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).