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Inland Revenue

Tax Policy

Consultation document
Published 5 May 2022

OECD Pillar Two: GloBE rules for New Zealand

An officials' issues paper seeking feedback about whether and how New Zealand should participate in an OECD/G20 tax measure aimed at base erosion and profit shifting by large multinational enterprises.

Also known as the GloBE (Global Anti-Base Erosion) rules, the measure would impose a minimum 15% tax on the excess income of multinational enterprises in every country in which they operate. Excess income is income in excess of a routine return on tangible investment and employee costs.

The proposal is the main part of the OECD’s Pillar Two stream of work.

The closing date for submissions is 1 July 2022.