New Zealand Publishes Fact Sheet on the Implementation of Automatic Exchange of Financial Account Information

On 28 July 2016, New Zealand Inland Revenue published a fact sheet on the implementation of automatic exchange of financial account information under the OECD's Common Reporting Standard (CRS). The fact sheet covers the reporting period, reportable jurisdictions, enforcement and compliance, and other related matters.

The initial reporting period will be 1 July 2017 to 31 March 2018, with subsequent reporting periods covering full tax years from 1 April to 31 March. The legislation for implem…