New Zealand Adopts Global Minimum Tax as Part of Omnibus Law
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New Zealand Adopts Global Minimum Tax as Part of Omnibus Law
New Zealand finalized a law that will introduce the global minimum corporate income tax of 15%, via an income inclusion rule and an undertaxed profits rule. The income inclusion rule will apply to New Zealand-headquartered multinationals, and the undertaxed profits rule will apply a top-up tax on foreign companies that operate in New Zealand but are taxed below 15% in their home jurisdictions.
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