KPMG welcomes the above changes, which will make the proposals more workable (particularly the change in application date as the original date created significant uncertainty for taxpayers).
While some concerns still remain, Government (and Officials) should be commended for taking on board the serious practical concerns raised.
This also highlights the importance of taxpayers making their concerns known to Government and Officials in order to get changes made.
If you have any questions on the above, please
speak to your usual KPMG advisor or contact:
Partner - Tax
Phone: +64 9 367 5904
National Tax Director
Phone: +64 9 367 5940