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.
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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