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On 18 May, New Zealand published its 2023 Budget and Taxation Bill. This Tax Tips Alert outlines the New Zealand Government's key tax announcements on Budget Day including:

  • Trustee tax rate increase to 39%;
  • New Zealand multinational taxpayers - OECD’s Pillar Two measures introduced;
  • Introduction of the Taxation Principles Reporting Bill; and
  • Various other tax insights from the Budget.