How does the GST Offshore Supplier Registration Bill affect your New Zealand business?
The GST Offshore Supplier Registration Bill, expected to come into effect on 1 October 2019, is a legislation proposed to to collect GST on low-value imported goods (under $1000). Supplies to New Zealand GST-registered businesses will be exempted unless the supplier decides to zero-rate the supply. Are you a GST-registered recipient of distantly taxable goods?
Under the Bill, the supplier would have to treat the recipient as a non- GST-registered person unless the recipient explicitly notifies the supplier or provides them with their GST registration number or New Zealand business number. However, it is important to note, and advised by the Government, that if you intend to use the goods for non-taxable purposes you should not identify yourself as such.