International Tax Obligations
Common Reporting Standards or CRS is part of an OECD led initiative involving the cross-border sharing of information . 100 countries including NZ have taken part. International tax departments are now sharing information with the IRD to ensure that its tax-residents are complying with NZ tax laws. NZ taxes individuals on their worldwide income, therefore tax-residents of NZ must declare all domestic and internationally sourced income. Legislation around this can be complicated. Get in touch with us if you have concerns or questions. Our international tax specialist is on hand to help!