NZ GVT Rate of Interest on Unpaid Tax
On Dec. 12, NZ GVT reduced interest on unpaid tax for taxpayers.
- NZ GVT issued Taxation (use of money interest rates) amendment regulations 2024.
- Amends the Taxation (use of money interest rates) regulations 1998 to decrease the taxpayer’s paying rate of interest on unpaid tax from 10.91% to 10.88% per annum.
- NZ Tax's paying rate of interest on overpaid tax is decreased from 4.67% to 4.30%.
- Effectiveness
- Regulations come into force on Jan. 16, 2025.
| Regulators |
NZ GVT
|
| Entity Types |
Corp |
| Reference |
Act/Sec Leg, SL 2024/254, 12/12/2024 |
| Functions |
Compliance; Legal; Tax; Treasury |
| Countries |
New Zealand |
| Category |
|
| State |
|
| Products |
Corporate |
| Regions |
AP |
| Rule Type |
Final |
| Rule Date |
12/12/2024 |
| Effective Date |
1/16/2025 |
| Rule Id |
236776 |
| Linked to |
N/A
|
| Reg. Last Update |
12/12/2024 |
| Report Section |
International |
Last substantive update on 12/17/2024
