Information Release: Taxation (Annual Rates for 2023–24, Multinational Tax and Remedial Matters) Bill

Source: Inland Revenue Department –

Documents in this information release

1. CBC-24-SUB-0012 – Paper: Proposed changes to the 39% trustee tax rate – 25 January 2024 
2. CBC-214-SUB0012 – RIS: 39% trustee rate Changes to the Multinational Tax Bill – 17 January 2024
3. CBC-24-MIN-0012 – Minute: Proposed changes to the 39% trustee tax rate – 25 January 2024
4. IR2023/291 – Report: 39% trustee tax rate – recommended changes to the Multinational Tax Bill – 20 December 2023
5. IR2023/221 – Report: Departmental Report on the Taxation (Annual Rates for 202324, Multinational Tax and Remedial Matters) Bill – 20 December 2023
6. IR2023/261 – Report: Setting Effective Dates for Global Anti-Base Erosion Tax (“GloBE Rules”) – 20 December 2023
7. IR2023/178 – Report: Platform Economy: Remedial measures for inclusion in current Tax Bill – 23 June 2023
8. IR2023/259 – Report: Disposals of trading stock at below market value – 20 December 2023
9. ECO-24-SUB-0004 – Paper: Disposals of trading stock at below market value – 21 February 2024 
10. ECO-24-MIN-0004 – Minute: Disposals of trading stock at below market value – 21 February 2024 
11. IR2023/273 – Report: Interest deductibility phasing options – 30 November 2023
12. BN2023/284 – Briefing note: Confirmation of fiscal estimate for interest limitation changes – 6 December 2023 
13. IR2023/279 – Report: Tax policy options for Mini Budget – 5 December 2023 
14. IR2024/015 – Report: New bright-line test and removing building depreciation – 13 February 2024
15. IR2024/027 – Report: Restoring interest deductibility for residential property – 1 February 2024
16. CAB-24-SUB-0054 – Paper: Restoring interest deductibility for residential property – 28 February 2024
17. ECO-24-MIN-0011 – Minute: Restoring interest deductibility for residential property – 28 February 2024
18. CAB-24-MIN-0054 – Minute: Restoring interest deductibility for residential property – 4 March 2024
19. IR2023/296 – Report: Options to regulate and tax online casino gambling – 18 December 2023
20. IR2024/061 – Report: Further information on online casino gambling – 16 February 2024
21. IR2024/029 – Report: Online Casino Gaming Duty and Regulation Cabinet paper – 23 February 2024 
22. CAB-24-SUB-0072 – Paper: Online Casino Gaming Duty and Regulation – 11 March 2024 
23. ECO-24-MIN-0018 – Minute: Online Casino Gaming Duty and Regulation – 6 March 2024 
24. CAB-24-MIN-0072 – Minute: Online Casino Gaming Duty and Regulation – 11 March 2024 
25. IR2024/071 – Report: Platform Economy: Transitional GST rule – 27 February 2024

Additional information

• The Cabinet paper Proposed changes to the 39% trustee tax rate (CBC-24-MIN-0012) was considered by the Cabinet Business Committee on 25 January 2024 and confirmed by Cabinet on 30 January 2024.
• The Cabinet paper Disposals of trading stock at below market value (ECO-24-SUB-0004) was considered by the Cabinet Economic Policy Committee on 21 February 2024 and confirmed by Cabinet on 26 February 2024.
• The Cabinet paper Restoring interest deductibility for residential property (ECO-24-MIN-0011) was considered by the Cabinet Economic Policy Committee on 28 February 2024 and confirmed by Cabinet on 4 March 2024.
• The Cabinet paper Online Casino Gaming Duty and Regulation Cabinet paper (ECO-24-MIN-0018) was considered by the Cabinet Economic Policy Committee on 6 March 2024 and confirmed by Cabinet on 11 March 2024.
• The Cabinet paper Fiscal Management: Mini Budget, Budget 2024 and the Fiscal Sustainability Programme (CAB-23-MIN-0490) which was considered by Cabinet on 11 December 2023. This paper will be separately released by The Treasury as part of their mini-budget release, however, some of the key advice reports are included in this release

The following Regulatory Impact Statements are not included in this information release as they are publicly available:

1. Reducing the bright-line period for taxing residential property, 8 December 2023
2. Reintroducing interest deductibility on residential investment property, 8 December 2023
3. Removing building depreciation, 7 December 2023
4. Disposals of trading stock at below market value, 20 December 2023
5. Online Casino Taxes, 21 February 2024

MIL OSI