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PIEs for New Zealand-resident company investors
A portfolio investment entity (PIE) is a new type of entity (such as a managed fund) that invests the contributions from investors in different types of investments. PIEs came into existence on 1 October 2007. Eligible entities that elect to become a PIE will generally pay tax on investment income based on the prescribed investor rate (PIR) of their investors, rather than at the entity's tax rate. Companies have a PIR of 0%.