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Tax Administration Act 1994

Penalties - Civil penalties

139AB: Penalty for member of large multinational group failing to provide information

You could also call this:

"Big companies must give info to the government or pay a fine"

Illustration for Tax Administration Act 1994

You are part of a large multinational group. The Commissioner can ask you for information under section 17. If you do not give the Commissioner the information they ask for, you may have to pay a penalty. The Commissioner decides how much the penalty is, but it cannot be more than $100,000. You must give the information within the time the Commissioner allows.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS57676.

Topics:
Money and consumer rights > TaxesBusiness > Industry rules
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Part 9Penalties
Civil penalties

139ABPenalty for member of large multinational group failing to provide information

  1. A member of a large multinational group is liable to pay a penalty under this section if—

  2. the Commissioner requires the member under section 17 to provide information or a document that is treated under section 17E(2) as being in the knowledge, possession, or control of the company; and
    1. the member fails to provide the information or document within the time allowed by the Commissioner.

      1. The penalty under this section is the amount specified by the Commissioner, which must not exceed $100,000.

      Notes
      • Section 139AB: inserted, on , by section 59 of the Taxation (Neutralising Base Erosion and Profit Shifting) Act 2018 (2018 No 16).
      • Section 139AB(1)(a): amended (with effect on 18 March 2019), on , by section 172 of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).