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Source: Inland Revenue Department –

An officials’ issues paper released today seeks feedback on a wide range of GST-related policy issues, to ensure the GST rules remain current for modern business practices and technology, while remaining fair.

Proposals include improving and simplifying tax invoice requirements, excluding cryptocurrency from certain GST and financial arrangement rules (while remaining taxable under existing income tax rules), changes to the GST apportionment and adjustment rules, and simplifying how GST can apply to certain financial services in the managed funds industry.

For more information see the officials’ issues paper and supporting documents. Submissions close on 9 April 2020.

MIL OSI New Zealand News