KEY POINTS:
An issues paper on international tax rules changes was released for consultation today.
The paper seeks feedback on proposed changes to the treatment of foreign dividends.
In a joint statement Finance Minister Michael Cullen and Revenue Minister Peter Dunne said a bill reforming tax law would be introduced in May.
The issue paper's main focus was taxation of dividends received by New Zealand companies from their offshore subsidiaries, the ministers said.
The paper, New Zealand's International Tax Review: the treatment of foreign dividends and transitional issues, is published on the IRD website.
Submissions close on February 15.
- NZPA
