UPDATE: New Zealand introduces new legislation to amend the import GST rules on low value imports

9 July 2019

The New Zealand government has announced that the introduction of the new legislation, to make changes to the Goods and Services Tax (GST) rules that apply to low value imports made by non-resident businesses shipping to consumers in the country, is postponed from 1 October 2019 to 1 December 2019.

Currently, the low value threshold allows all importers to purchase goods from non-resident companies without paying any GST or duties where:

• The combined value of duty, excise and GST calculated on the goods totals NZ$60 or less.
• The goods have no duty applicable and are valued up to an amount of NZ$400.00

In order to remove the unfair advantage that this gives to non-resident sellers over resident businesses, the NZ government will make these businesses GST register if their low value import sales sold to non-GST registered businesses, reach the registration threshold of NZ$60,000.

This follows Australia who introduced similar GST rule changes on 1 July 2018.

LATEST NEWS

The new EU VAT e-commerce package – Implications for...

From 1 July 2021, low-value consignments of €22 or less imported into the European Union (EU) will no longer be exempt from import VAT. Instead, VAT will be...

SEE MORE
LATEST NEWS

The new EU VAT e-commerce package – Implications for...

From 1 July 2021, the European Union’s (EU) e-commerce reform will be introduced, which will include the withdrawal of the current VAT distance selling...

SEE MORE
LATEST NEWS

Separate EORI number for Northern Ireland required

HMRC have recently confirmed that businesses who import and export goods from Northern Ireland (NI) will need a special Economic Operator Identification Number...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.