The Taxation (Neutralising Base Erosion and Profit Shifting) Act 2018 made a series of changes to New Zealand's international tax rules as a domestic law response to the OECD/G20's BEPS project.
To support the new rules, including the expanded information collection powers applying to large multinational groups, we have introduced the BEPS disclosure. You should complete this if the hybrid and branch mismatch rules, or interest limitation rules, apply to you in income years beginning on or after 1 July 2018 (the general application date for the BEPS rules).
The BEPS disclosure must be completed in myIR. You can log in or register for an account through our website. To find the disclosure, go to your 'Income Tax' account. Under the 'Periods' tab, select the year for which you want to make the disclosure. On the right-hand side under 'I want to...', choose 'Submit BEPS disclosure'.
To help you determine if you need to make a BEPS disclosure, and for assistance in completing the disclosure, we have prepared a guidance document.
In relation to the hybrid and branch mismatch rules, the following table may also assist you in determining if you need to make a BEPS disclosure.