If you are a New Zealand resident and you are paying interest, dividends or royalties to a non-resident - this section explains the rules for NRWT (Non-resident withholding tax) and the approved issuer levy.
Approved issuer levy
If you pay interest to a (non associated) non-resident lender, and want to pay it at a zero rate of NRWT (Non-resident withholding tax), you have to apply to Inland Revenue to become an approved issuer. Instead of deducting NRWT, approved issuers (or a person on their behalf) must pay a levy on the securities they register with Inland Revenue.
NRWT payers
If you're paying interest, dividends or royalties to people who aren't New Zealand tax residents, you'll need to deduct NRWT (Non-resident withholding tax).
Date published: 18 Nov 2004
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