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 Non-resident withholding tax (NRWT) and the approved issuer levy.
Approved issuer levy
If you pay interest to a non-resident lender, and want to pay it at a zero rate of non-resident withholding tax (NRWT), 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 pay interest to a non-resident lender, and want to pay it at a zero rate of non-resident withholding tax (NRWT), 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.
Date published: 18 Nov 2004
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