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Tax Administration Act 1994

Foreign account information-sharing agreements - Model reporting standards for digital platforms

185T: Implementation of and requirements for extended model reporting standard for digital platforms

You could also call this:

"Rules for digital platforms to report tax information"

Illustration for Tax Administration Act 1994

The Governor-General can decide when to start using the extended model reporting standard for digital platforms in New Zealand. You need to follow the rules set out in this standard if you are a platform operator or seller. The platform operator can choose to use a simpler standard for sellers who live in New Zealand and do not live in another country. The Commissioner must work out the New Zealand dollar equivalent to a monetary threshold in the extended model reporting standard. This threshold is used to define an excluded seller, as explained in section 91AABB. You can find more information about this in the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023. The Governor-General can only make this decision within a certain time period, which starts when the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 comes into effect and ends three years later. Any decisions made by the Governor-General are considered secondary legislation, which has its own publication requirements, as explained in Part 3 of the Legislation Act 2019.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS935445.

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Part 11BForeign account information-sharing agreements
Model reporting standards for digital platforms

185TImplementation of and requirements for extended model reporting standard for digital platforms

  1. For the purposes of sections 91AABB, 142J, 142K, 143(2E), 185E, and 185S, the Governor-General may by Order in Council made on the recommendation of the Minister of Revenue declare a date on which the extended model reporting standard for digital platforms is to be implemented in New Zealand.

  2. As required by section 185S(2) and (3) in relation to the model reporting standard for digital platforms, the platform operator and the seller must comply in the same way with all the requirements set out in the extended model reporting standard for digital platforms.

  3. Despite subsection (2), the platform operator may choose to apply only the model reporting standard for digital platforms under section 185S in relation to sellers operating on the digital platform if the sellers—

  4. are resident in New Zealand; and
    1. are not resident in a country or territory other than New Zealand.

      1. For the purposes of Part 11B in the application of the extended model reporting standard for digital platforms,—

      2. section 185S(4) applies in the same way as it applies to the model reporting standard for digital platforms:
        1. the Commissioner must determine and publish the New Zealand dollar equivalent to the monetary threshold in the definition of excluded seller in section I, B(4)(d) of the extended model reporting standard for digital platforms (see section 91AABB).

          1. An Order in Council under this section may be made only in the period that starts on the date of commencement of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 and ends on the date that is 3 years after that date.

          2. An Order in Council made under this section is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

          Notes
          • Section 185T: inserted, on , by section 211 of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).