In 2023, the New Zealand Inland Revenue announced new reporting obligations for digital platforms, effective in 2024, based on the OECD Model Rules for Reporting by Platform Operators in the Sharing and Gig Economy. These rules require digital platforms in New Zealand to collect and report data on sellers receiving fees for specified services. With the reporting deadline approaching (February 7, 2025) it is crucial for these platforms to ensure the accuracy of the collected information and comply with the new regulations.
New Zealand Digital Platform Reporting: Key Details for Early 2025
Public
Other countries
Author: Ivana Picajkić
Category:
Fiscal subject related
General information
Views:
326
Content accuracy validation date:
05.12.2024
Content accuracy validation time:
08:33h
In 2023, the New Zealand Inland Revenue announced that starting in 2024, new reporting obligations for digital platforms will be implemented based on the OECD Model Rules for Reporting by Platform Operators concerning Sellers in the Sharing and Gig Economy. These rules require digital platforms based in New Zealand to collect and report data on sellers who receive fees for specified services offered through their platforms.
The main elements of the New Reporting Requirements are as follows:
- Scope of Services: The in-scope services include renting commercial and short-term accommodations, as well as personal services such as ride-sharing, food delivery, and graphic design.
- Data Collection: Digital platform operators must gather information about the services provided by sellers and the revenue generated through these platforms.
- Reporting Deadline: The first annual reports under these new requirements are due by February 7, 2025.
Digital platform operators that fail to collect and report the required information may face penalties of NZD 300 (approximately 176.36 USD) per instance of non-compliance, with a maximum penalty of NZD 10,000 (approximately 5,878.80 USD) per reporting year.
Additional penalties may apply for not exercising reasonable care regarding data collection, starting at NZD 20,000 (approximately 11,757.60 USD) for the first breach and escalating to NZD 100,000 (approximately 58,788.00 USD) for repeated violations.
As this is the first year that resident digital platform operators must adhere to these new rules, they need to prepare their reports diligently to avoid penalties. With the reporting deadline approaching, these platforms must ensure the accuracy of the collected information and comply with the new regulations.
Other news from Other countries
Canada Extends Destination-Based GST/HST to Digital Services
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
Canada taxes digital services and intangible property sold by non-resident vendors to consumers (B2C) based on where the customer is located. Once a certain revenue level is reached, these vendors need to register for GST/HST. The vendor takes care of the GST obligations if they sell directly to customers. However, if sales happen through an online platform, the platform might be the one responsib... Read more
Vietnam's New Invoice Regulations Take Effect June 1, 2025
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
Decree 70/2025/ND-CP revises invoice issuance timing for high-volume services and adds rules for insurance, lottery, casino, and prize-based electronic games. Starting June 1, 2025, business households with annual revenue ≥1 billion VND (38,454.14USD) and enterprises selling goods must use e-invoices from cash registers. Erroneous invoices are prohibited. Adjustments to Invoice Issuance Deadlines... Read more
VAT Refund in Mexico: Get Up to 16% VAT
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
Mexico offers foreign tourists up to 16% VAT refunds on purchases at affiliated stores, with minimum purchase amount of $1,200 and payment methods of cash, credit, or debit card. When customers are visiting Mexico, they can get back up to 16% of the VAT (Value Added Tax) they pay on purchases at participating stores. To get this refund, there are a few things you need to keep in mind: You need... Read more
South Africa Updates VAT Rules for Foreign Digital Suppliers (April 2025)
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
South Africa’s new VAT rules (Regulations No. 5993, effective 1 April 2025) update the treatment of electronically supplied services by foreign digital providers. B2B-only suppliers no longer need to register for VAT, while B2C and mixed suppliers must register if their turnover exceeds the threshold. Intra-group digital services are VAT-exempt under specific conditions. The changes aim to moderni... Read more
Netherlands and EU's ViDA: New VAT Rules for Platforms in Accommodation & Transport
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
Under the EU’s ViDA initiative, new VAT rules from March 2025 make platforms in the accommodation and transport sectors liable for VAT on short-term stays (≤30 nights) and road transport, unless the supplier provides a valid VAT/OSS ID or qualifies under an SME scheme. B2C services are taxed where used, B2B where the recipient is based. Platforms must keep transaction records for 10 years. The rul... Read more
Understanding U.S. Sales Tax for Online Retailers
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
In 2024, U.S. ecommerce reached $1.192 trillion, with most online purchases involving taxable goods. Sales tax rates vary across more than 13,000 jurisdictions, and the applicable rate depends on state-specific sourcing rules, typically based on the shipping address, but sometimes the seller’s or billing address. Retailers must stay compliant with each state’s rules, including how shipping fees ar... Read more
Vietnam's New E-Invoicing Rules: What You Need to Know (Starting June 1, 2025)
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
Vietnam's Decree 70/2025/ND-CP amends Decree 123/2020/ND-CP, enhancing e-invoicing for digital and cross-border businesses. It expands e-invoicing scope, sets issuance timelines, mandates invoice content and format, and requires businesses with over VND 1 billion(38483.80USD) revenue to use cash register e-invoices linked to tax authorities. Vietnam is updating its e-invoicing system through Decre... Read more