The scope and application of the New Zealand general anti-avoidance provision has become very topical recently after a number of wins for the New Zealand Inland Revenue Department. Kirsty Keating and Mark Loveday, of Ernst & Young, explain how recent cases show how non-arm’s-length transacting can form the basis for invoking tax avoidance provisions in New Zealand.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year